Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Equity

Equity

The Company is authorized to issue up to 206,000,000 shares of common stock of $0.01 par value. At December 31, 2019 and 2018, the Company had 72,000,261 and 72,378,710 shares outstanding, respectively. The Company is also authorized to issue 2,000,000 shares of $0.01 par value preferred stock. As of December 31, 2019, no shares of preferred stock have been issued. 

Stock Repurchase

In 2019, 2018 and 2017, the Company repurchased a total of 1.1 million, 0.4 million, and 0.5 million shares, respectively, at a cost of $31.8 million, $10.0 million, and $7.7 million. The Company funded such repurchases with cash on hand and borrowings to the existing revolving credit facility. As of December 31, 2019, 2018 and 2017, the repurchased shares were permanently retired.

Dividends

The Company pays a regular quarterly dividend on common stock, subject to the declaration thereof by our Board each quarter. Any declaration and payment of future dividends to holders of our common stock will be at the discretion of our Board and will depend on many factors, including our financial condition, earnings, available cash, business opportunities, legal requirements, restrictions in our debt agreements and other contracts, capital requirements, level of indebtedness and other factors that our Board deems relevant.

The Company’s dividend activity in 2019 and 2018 was as follows:

Declaration Date	Record Date	Payment Date	Dividend per share
July 26, 2018	August 6, 2018	September 7, 2018	$	0.05
October 25, 2018	November 5, 2018	December 7, 2018	0.05
February 15, 2019	February 26, 2019	March 22, 2019	0.05
April 25, 2019	May 6, 2019	June 7, 2019	0.05
July 25, 2019	August 5, 2019	September 6, 2019	0.05
October 23, 2019	November 4, 2019	December 6, 2019	0.05

Accumulated Other Comprehensive loss

The following table provides a summary of the changes in the balances comprising accumulated other comprehensive loss for the years ended December 31, 2019 and 2018:

	Foreign Currency Translation Adjustments			Cash Flow Hedge			Total
Balance - December 31, 2017, net of tax	$	(11,062	)	$	214		$	(10,848	)
Other comprehensive loss before reclassifications	(10,564		)	(2,273		)	(12,837		)
Amount reclassified to Net Income	—			(104		)	(104		)
Balance - December 31, 2018, net of tax	(21,626		)	(2,163		)	(23,789		)
Other comprehensive income (loss) before reclassifications	4,754			(10,297		)	(5,543		)
Amount reclassified to Net Income	—			(677		)	(677		)
Balance - December 31, 2019, net of tax	$	(16,872	)	$	(13,137	)	$	(30,009	)