Shareholders' Equity and Accumulated Other Comprehensive Income

9 Months Ended

Sep. 29, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity and Accumulated Other Comprehensive Income

SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in shareholders’ equity for the nine-month fiscal periods ended September 29, 2017, and September 30, 2016, were as follows:

	For the Nine Months Ended
	September 29, 2017			September 30, 2016
In thousands
Beginning balance	$	565,787		$	543,077
Comprehensive income	66,843			50,453
Dividends declared	(16,581		)	(14,640		)
Employee stock plans and related tax benefit	5,426			7,094
Purchase of treasury shares	(6,931		)	(8,989		)
Share-based compensation expense	4,917			4,711
Amounts reclassified to temporary equity	1,786			(2,344		)
Changes due to convertible notes transactions	(2,522		)	—
Ending balance	$	618,725		$	579,362

The components of accumulated other comprehensive income (loss) are shown below:

	For the Three Months Ended
	September 29, 2017			September 30, 2016
In thousands
Foreign currency translation:
Beginning balance	$	(18,522	)	$	(22,590	)
Net gain/(loss) on foreign currency translation	7,731			1,050
Reclassification to net income	—			—
Other comprehensive income/(loss), net of tax	7,731			1,050
Ending balance	$	(10,791	)	$	(21,540	)
Pension and other post-retirement benefits(1):
Beginning balance	$	(117,080	)	$	(113,445	)
Reclassifications to net income:
Amortization of net loss, net of tax expense of $1,309 and $1,213, respectively	2,220			2,005
Other comprehensive income/(loss), net of tax	2,220			2,005
Ending balance	$	(114,860	)	$	(111,440	)
Derivative instruments(2):
Beginning balance	$	142		$	(770	)
Net loss on derivative instruments, net of tax (benefit) expense of ($4) and $118, respectively	(6		)	195
Reclassification to net income, net of tax (benefit) expense of ($39) and $87, respectively	(64		)	143
Other comprehensive income/(loss), net of tax	(70		)	338
Ending balance	$	72		$	(432	)
Total accumulated other comprehensive income (loss)	$	(125,579	)	$	(133,412	)

15. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED)

	For the Nine Months Ended
	September 29, 2017			September 30, 2016
In thousands
Foreign currency translation:
Beginning balance	$	(34,896	)	$	(22,625	)
Net gain/(loss) on foreign currency translation	24,105			1,085
Reclassification to net income	—			—
Other comprehensive income/(loss), net of tax	24,105			1,085
Ending balance	$	(10,791	)	$	(21,540	)
Pension and other post-retirement benefits(1):
Beginning balance	$	(121,448	)	$	(117,455	)
Reclassifications to net income:
Amortization of net loss, net of tax expense of $3,979 and $3,641, respectively	6,588			6,015
Other comprehensive income/(loss), net of tax	6,588			6,015
Ending balance	$	(114,860	)	$	(111,440	)
Derivative instruments(2):
Beginning balance	$	(49	)	$	(58	)
Net loss on derivative instruments, net of tax expense of $74 and $512, respectively	124			(845		)
Reclassification to net income, net of tax (benefit) expense of ($2) and $285, respectively	(3		)	471
Other comprehensive income/(loss), net of tax	121			(374		)
Ending balance	$	72		$	(432	)
Total accumulated other comprehensive income (loss)	$	(125,579	)	$	(133,412	)

⁽¹⁾These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

(See Note 10, Pension Plans for additional information.)

⁽²⁾See Note 6, Derivative Financial Instruments, for additional information regarding our derivative instruments.