STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2014

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

NOTE G – STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Loss

	March 31			December 31
	2014			2013
	(in thousands)
Pre-tax amounts:
Unrecognized net periodic benefit costs	$	(21,491	)	$	(17,044	)
Foreign currency translation	(924		)	(863		)
Total	$	(22,415	)	$	(17,907	)
After-tax amounts:
Unrecognized net periodic benefit costs	$	(17,103	)	$	(14,386	)
Foreign currency translation	(563		)	(526		)
Total	$	(17,666	)	$	(14,912	)

The following is a summary of the changes in accumulated other comprehensive loss, net of tax, by component for the three months ended March 31, 2014:

				Unrecognized			Foreign
				Net Periodic			Currency
	Total			Benefit Costs			Translation
	(in thousands)
Balances at December 31, 2013	$	(14,912	)	$	(14,386	)	$	(526	)
Other comprehensive loss before reclassifications	(5,333		)	(5,296		)	(37		)
Amounts reclassified from accumulated other comprehensive loss	2,579			2,579			—
Net current-period other comprehensive loss	(2,754		)	(2,717		)	(37		)
Balances at March 31, 2014	$	(17,666	)	$	(17,103	)	$	(563	)

The following is a summary of the significant reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2014:

	Unrecognized
	Net Periodic
	Benefit Costs (1) (2)
	(in thousands)
Amortization of actuarial loss	$	(577	)
Amortization of prior service credit	47
Pension settlement expense	(3,691		)
Total, pre-tax	(4,221		)
Tax benefit	1,642
Total, net of tax	$	(2,579	)

(1) Amounts in parentheses indicate increases in expense or loss.

(2) These components of accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note F).

Dividends on Common Stock

On April 23, 2014, the Company’s Board of Directors declared a dividend of $0.03 per share payable to stockholders of record as of May 7, 2014.

The following table is a summary of dividends declared during the applicable quarter:

	2014				2013
	Per Share		Amount		Per Share		Amount
	(in thousands, except per share data)
First quarter	$	0.03	$	819	$	0.03	$	807
Second quarter (2014 amount estimated)	$	0.03	$	817	$	0.03	$	806