Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Shareholder Rights Plan

In August 2012, the Company’s Board of Directors adopted a Shareholder Rights Plan (the “Rights Plan”) and declared a dividend of one right for each outstanding share of the Company’s common stock outstanding at the close of business on September 11, 2012. Pursuant to the Rights Plan, the Company issued one preferred stock purchase right (a “Right”) for each share of common stock outstanding on September 11, 2012. Each Right, once exercisable, represents the right to purchase one one-hundredth of a share (a “Unit”) of Series B Junior Preferred Stock of the Company, without par value, for $54.00, subject to adjustment. The Rights become exercisable in the event any individual person or entity, without Board approval, acquires 10% or more of the Company’s common stock, subject to certain exceptions. In these circumstances, each holder of a Right (other than rights held by the acquirer) will be entitled to purchase, at the then-current exercise price of the Right, additional shares of the Company’s common stock having a value of twice the exercise price of the Right. Additionally, if the Company is involved in a merger or other business combination transaction with another person after which its common stock does not remain outstanding, each Right will entitle its holder to purchase, at the then-current exercise price of the Right, shares of common stock of the ultimate parent of such other person having a market value of twice the exercise price of the Right. The Rights may be redeemed by the Company for $0.001 per Right at any time until the tenth business day following the first public announcement of an acquisition of beneficial ownership of 10% of the Company’s common stock. On August 13, 2013, the Company's Board of Directors agreed to extend the Rights Plan from August 30, 2013, when it was originally set to expire, to August 30, 2014, unless the rights issued thereunder were earlier redeemed or the Rights Plan was amended by the Board of Directors. The Rights Plan expired on August 30, 2014.

Comprehensive Loss

Comprehensive loss includes net loss and all other non-owner changes to equity that are not reported in net loss.

The Company’s comprehensive loss for the three months ended September 30, 2014 and 2013 is as follows:

	Three months ended September 30,
	2014			2013
Net loss	$	(7,325	)	$	(6,911	)
Foreign currency translation adjustments	(2,064		)	924
Change in unrecognized pension and postretirement benefit costs, net of tax	254			346
Total comprehensive loss	$	(9,135	)	$	(5,641	)

The Company’s comprehensive loss for the nine months ended September 30, 2014 and 2013 is as follows:

	Nine months ended September 30,
	2014			2013
Net loss	$	(95,621	)	$	(21,332	)
Foreign currency translation adjustments	(1,438		)	(1,576		)
Change in unrecognized pension and postretirement benefit costs, net of tax	761			1,036
Total comprehensive loss	$	(96,298	)	$	(21,872	)

The components of accumulated other comprehensive loss are as follows:

	September 30, 2014			December 31, 2013
Foreign currency translation losses	$	(6,055	)	$	(4,617	)
Unrecognized pension and postretirement benefit costs, net of tax	(13,365		)	(14,126		)
Total accumulated other comprehensive loss	$	(19,420	)	$	(18,743	)

Changes in accumulated other comprehensive loss by component for the three months ended September 30, 2014 and 2013 are as follows:

	Defined Benefit Pension and Postretirement Items						Foreign Currency Items						Total
	2014			2013			2014			2013			2014			2013
Balance as of July 1,	$	(13,619	)	$	(18,059	)	$	(3,991	)	$	(4,822	)	$	(17,610	)	$	(22,881	)
Other comprehensive (loss) income before reclassifications	—			—			(2,064		)	924			(2,064		)	924
Amounts reclassified from accumulated other comprehensive loss, net of tax (a)	254			346			—			—			254			346
Net current period other comprehensive income (loss)	254			346			(2,064		)	924			(1,810		)	1,270
Balance as of September 30,	$	(13,365	)	$	(17,713	)	$	(6,055	)	$	(3,898	)	$	(19,420	)	$	(21,611	)

Changes in accumulated other comprehensive loss by component for the nine months ended September 30, 2014 and 2013 are as follows:

	Defined Benefit Pension and Postretirement Items						Foreign Currency Items						Total
	2014			2013			2014			2013			2014			2013
Balance as of January 1,	$	(14,126	)	$	(18,749	)	$	(4,617	)	$	(2,322	)	$	(18,743	)	$	(21,071	)
Other comprehensive loss before reclassifications	—			—			(1,438		)	(1,576		)	(1,438		)	(1,576		)
Amounts reclassified from accumulated other comprehensive loss, net of tax (a)	761			1,036			—			—			761			1,036
Net current period other comprehensive income (loss)	761			1,036			(1,438		)	(1,576		)	(677		)	(540		)
Balance as of September 30,	$	(13,365	)	$	(17,713	)	$	(6,055	)	$	(3,898	)	$	(19,420	)	$	(21,611	)

^(a) See reclassifications from accumulated other comprehensive loss table for details of reclassification from accumulated other comprehensive loss for the three and nine months ended September 30, 2014 and 2013.

Reclassifications from accumulated other comprehensive loss are as follows:

	Three months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Unrecognized pension and postretirement benefit items:
Prior service cost (b)	$	(71	)	$	(80	)	$	(212	)	$	(242	)
Actuarial loss (b)	(345		)	(485		)	(1,035		)	(1,455		)
Total before tax	(416		)	(565		)	(1,247		)	(1,697		)
Tax effect	162			219			486			661
Total reclassifications for the period, net of tax	$	(254	)	$	(346	)	$	(761	)	$	(1,036	)

^(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost for the three and nine months ended September 30, 2014 and 2013 (see Note 11 for additional details).