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Shareholders' Equity
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity

Preferred Stock
We have authorized the issuance of 10 million shares of preferred stock with no par value. In the event of a liquidation, dissolution, or winding up of the affairs of the corporation, whether voluntary or involuntary, the holders of any outstanding preferred stock will be entitled to be paid a preferential amount per share to be determined by the Board of Directors prior to any payment to holders of common stock. There was no preferred stock issued or outstanding at June 30, 2019 and December 31, 2018.

Stock Repurchase Authorization
On March 14, 2019, Itron's Board of Directors authorized the Company to repurchase up to $50 million of our common stock over a 12-month period (the 2019 Stock Repurchase Program). Following the announcement of the program and through June 30, 2019, we repurchased 529,396 shares at an average share price of $47.22 (including commissions) for a total of $25 million. The remaining amount authorized for repurchase under the 2019 Stock Repurchase Program is $25 million. In accordance with the terms of our 5% senior notes indenture maturing January 15, 2026, we are limited to a total of $25 million in stock repurchases in 2019. As we have already met that threshold, we will not repurchase any more shares for the remainder of 2019.


Other Comprehensive Income (Loss)
The before-tax amount, income tax (provision) benefit, and net-of-tax amount related to each component of OCI were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
In thousands
2019
 
2018
 
2019
 
2018
Before-tax amount
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
5,352

 
$
(34,271
)
 
$
3,098

 
$
(17,978
)
Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
651

 
3,068

 
822

 
4,504

Net hedging (gain) loss reclassified into net income
(2,610
)
 
(2,354
)
 
(2,874
)
 
(2,373
)
Net unrealized gain (loss) on defined benefit plans
378

 
—

 
720

 
—

Net defined benefit plan loss reclassified to net income
(189
)
 
409

 
(10
)
 
829

Total other comprehensive income (loss), before tax
$
3,582

 
$
(33,148
)
 
$
1,756

 
$
(15,018
)
 
 
 
 
 
 
 
 
Tax (provision) benefit
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
(165
)
 
$
111

 
$
(297
)
 
$
118

Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
136

 
(173
)
 
176

 
(426
)
Net hedging (gain) loss reclassified into net income
189

 
(55
)
 
377

 
(50
)
Net unrealized gain (loss) on defined benefit plans
(42
)
 
—

 
(57
)
 
—

Net defined benefit plan loss reclassified to net income
36

 
(8
)
 
1

 
(14
)
Total other comprehensive income (loss) tax benefit
$
154

 
$
(125
)
 
$
200

 
$
(372
)
 
 
 
 
 
 
 
 
Net-of-tax amount
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
5,187

 
$
(34,160
)
 
$
2,801

 
$
(17,860
)
Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
787

 
2,895

 
998

 
4,078

Net hedging (gain) loss reclassified into net income
(2,421
)
 
(2,409
)
 
(2,497
)
 
(2,423
)
Net unrealized gain (loss) on defined benefit plans
336

 
—

 
663

 
—

Net defined benefit plan loss reclassified to net income
(153
)
 
401

 
(9
)
 
815

Total other comprehensive income (loss), net of tax
$
3,736

 
$
(33,273
)
 
$
1,956

 
$
(15,390
)


The changes in the components of AOCI, net of tax, were as follows:
In thousands
Foreign Currency Translation Adjustments
 
Net Unrealized Gain (Loss) on Derivative Instruments
 
Net Unrealized Gain (Loss) on Nonderivative Instruments
 
Pension Benefit Obligation Adjustments
 
Accumulated Other Comprehensive Income (Loss)
Balances at January 1, 2018
$
(128,648
)
 
$
966

 
$
(14,380
)
 
$
(28,416
)
 
$
(170,478
)
OCI before reclassifications
(17,860
)
 
4,078

 
—

 
—

 
(13,782
)
Amounts reclassified from AOCI
—

 
(2,423
)
 
—

 
815

 
(1,608
)
Total other comprehensive income (loss)
(17,860
)

1,655


—

 
815

 
(15,390
)
Balances at June 30, 2018
$
(146,508
)
 
$
2,621

 
$
(14,380
)
 
$
(27,601
)
 
$
(185,868
)
 
 
 
 
 
 
 
 
 
 
Balances at January 1, 2019
$
(157,489
)
 
$
1,201

 
$
(14,380
)
 
$
(25,637
)
 
$
(196,305
)
OCI before reclassifications
2,801

 
998

 
—

 
663

 
4,462

Amounts reclassified from AOCI
—

 
(2,497
)
 
—

 
(9
)
 
(2,506
)
Total other comprehensive income (loss)
2,801


(1,499
)
 
—

 
654

 
1,956

Balances at June 30, 2019
$
(154,688
)
 
$
(298
)
 
$
(14,380
)
 
$
(24,983
)
 
$
(194,349
)