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Shareholders' Equity
 9 Months Ended
Sep. 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 September 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 September 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. We met the threshold by June 30, 2019. No additional shares will be repurchased 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 September 30,
 
Nine Months Ended September 30,
In thousands
2019
 
2018
 
2019
 
2018
Before-tax amount
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
(16,501
)
 
$
(576
)
 
$
(13,403
)
 
$
(18,554
)
Foreign currency translation adjustment reclassified into net income on disposal
2,443


—

 
2,443

 
—

Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
4,088

 
712

 
4,910

 
5,216

Net hedging (gain) loss reclassified into net income
(3,453
)
 
175

 
(6,327
)
 
(2,198
)
Net unrealized gain (loss) on defined benefit plans
598

 
—

 
1,318

 
—

Net defined benefit plan (gain) loss reclassified to net income
(90
)
 
399

 
(100
)
 
1,228

Total other comprehensive income (loss), before tax
$
(12,915
)
 
$
710

 
$
(11,159
)
 
$
(14,308
)
 
 
 
 
 
 
 
 
Tax (provision) benefit
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
156

 
$
(102
)
 
$
(141
)
 
$
16

Foreign currency translation adjustment reclassified into net income on disposal
—

 
—

 
—

 
—

Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
(91
)
 
(20
)
 
85

 
(446
)
Net hedging (gain) loss reclassified into net income
151

 
41

 
528

 
(9
)
Net unrealized gain (loss) on defined benefit plans
(10
)
 
—

 
(67
)
 
—

Net defined benefit plan (gain) loss reclassified to net income
4

 
(7
)
 
5

 
(21
)
Total other comprehensive income (loss) tax benefit
$
210

 
$
(88
)
 
$
410

 
$
(460
)
 
 
 
 
 
 
 
 
Net-of-tax amount
 
 
 
 
 
 
 
Foreign currency translation adjustment
$
(16,345
)
 
$
(678
)
 
$
(13,544
)
 
$
(18,538
)
Foreign currency translation adjustment reclassified into net income on disposal
2,443

 
—

 
2,443

 
—

Net unrealized gain (loss) on derivative instruments designated as cash flow hedges
3,997

 
692

 
4,995

 
4,770

Net hedging (gain) loss reclassified into net income
(3,302
)
 
216

 
(5,799
)
 
(2,207
)
Net unrealized gain (loss) on defined benefit plans
588

 
—

 
1,251

 
—

Net defined benefit plan (gain) loss reclassified to net income
(86
)
 
392

 
(95
)
 
1,207

Total other comprehensive income (loss), net of tax
$
(12,705
)
 
$
622

 
$
(10,749
)
 
$
(14,768
)


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
(18,538
)
 
4,770

 
—

 
—

 
(13,768
)
Amounts reclassified from AOCI
—

 
(2,207
)
 
—

 
1,207

 
(1,000
)
Total other comprehensive income (loss)
(18,538
)

2,563


—

 
1,207

 
(14,768
)
Balances at September 30, 2018
$
(147,186
)
 
$
3,529

 
$
(14,380
)
 
$
(27,209
)
 
$
(185,246
)
 
 
 
 
 
 
 
 
 
 
Balances at January 1, 2019
$
(157,489
)
 
$
1,201

 
$
(14,380
)
 
$
(25,637
)
 
$
(196,305
)
OCI before reclassifications
(13,544
)
 
4,995

 
—

 
1,251

 
(7,298
)
Amounts reclassified from AOCI
2,443

 
(5,799
)
 
—

 
(95
)
 
(3,451
)
Total other comprehensive income (loss)
(11,101
)

(804
)
 
—

 
1,156

 
(10,749
)
Balances at September 30, 2019
$
(168,590
)
 
$
397

 
$
(14,380
)
 
$
(24,481
)
 
$
(207,054
)