SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Stock

There were no shares repurchased during the three months ended March 31, 2023 and 2022.

As of March 31, 2023, the Company had 1,873,608 shares of common stock outstanding. As of March 31, 2022, the Company had 1,949,716 shares of common stock outstanding.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, 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 loss are as follows (in thousands):

	Foreign Currency Translation		Pension Postretirement Benefit Obligation		Accumulated Other Comprehensive Income (Loss), Net
Balance as of December 31, 2022	$	(608)	$	400	$	(208)
Current-period change (1)	(799)		—		(799)
Balance as of March 31, 2023	$	(1,407)	$	400	$	(1,007)

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

Dividends

On March 5, 2023, the Board declared a dividend of $0.20 per share that was paid on March 30, 2023 to shareholders of record on March 16, 2023, for an aggregate amount of $0.4 million.