SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Stock

During the three months ended June 30, 2022, the Company repurchased 31,411 shares of its outstanding common stock. During the three months ended June 30, 2021, the Company repurchased 171,709 additional shares of its outstanding common stock, which included 171,433 shares of its outstanding common stock repurchased pursuant to the tender offer.

As of June 30, 2022, the Company had 1,921,262 shares of common stock outstanding. As of June 30, 2021, the Company had 1,892,646 shares of common stock outstanding.

Accumulated Other Comprehensive Income

Accumulated other comprehensive income, reflected in the Consolidated Statement of Shareholders’ Equity, represents net income plus the results of certain shareholders’ equity changes not reflected in the Consolidated Statements of Operations, such as foreign currency translation and certain pension and post-retirement benefit obligations. The after-tax components of accumulated other comprehensive income, are as follows (in thousands):

	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income, Net
Balance as of December 31, 2021	$	1,961	$	381	$	2,342
Current-period change (1)	(2,834)		—		(2,834)
Balance as of June 30, 2022	$	(873)	$	381	$	(492)

(1) No material amounts reclassified from accumulated other comprehensive income.

Dividends

On March 4, 2022, the Board declared a dividend of $0.20 per share that was paid on March 30, 2022 to shareholders of record on March 16, 2022, for an aggregate amount of $0.4 million.

On June 3, 2022, the Board declared a dividend of $0.20 per share that was paid on June 29, 2022 to shareholders of record on June 15, 2022, for an aggregate amount of $0.4 million.