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Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock at $1 par value
[1]
Capital in excess of par value
Reinvested earnings
Reinvested earnings
Cumulative Effect, Period of Adoption, Adjustment
Employee benefit stock
Accumulated other comprehensive income (loss)
Accumulated other comprehensive income (loss)
Cumulative Effect, Period of Adoption, Adjustment
Treasury stock
Balance at beginning of period at Dec. 31, 2017 $ 277,452   $ 37,165 $ 32,182 $ 244,224   $ (460) $ (10,893)   $ (24,766)
Balance at beginning of period (Accounting Standards Update 2014-09) at Dec. 31, 2017   $ (128)       $ (128)        
Balance at beginning of period (Accounting Standards Update 2018-02) at Dec. 31, 2017           $ 1,700     $ (1,700)  
Net earnings 27,790       27,790          
Pension and postretirement benefits (net of tax effect) 13,657             13,657    
Foreign currency translation (484)             (484)    
Cash dividends (16,273)       (16,273)          
Stock options exercised 1,511   33 1,410           68
ESSOP transactions 76     (78)     154      
Stock-based compensation 4,174     4,174            
Purchase of common stock for treasury stock (4,795)                 (4,795)
Issuance of treasury stock 523     394           129
Balance at end of period at Dec. 31, 2018 303,503   37,198 38,082 257,313   (306) 580   (29,364)
Net earnings 47,177       47,177          
Pension and postretirement benefits (net of tax effect) (97)             (97)    
Foreign currency translation (58)             (58)    
Cash dividends (18,611)       (18,611)          
Stock options exercised 1,961   2 1,708           251
ESSOP transactions 553     401     152      
Stock-based compensation 1,214     1,214            
Purchase of common stock for treasury stock (5,207)                 (5,207)
Issuance of treasury stock 633     551           82
Balance at end of period at Dec. 31, 2019 331,068   37,200 41,956 285,879   (154) 425   (34,238)
Net earnings 49,343       49,343          
Pension and postretirement benefits (net of tax effect) (208)             (208)    
Foreign currency translation 1,096             1,096    
Cash dividends (20,372)       (20,372)          
Stock options exercised 1,058   21 877           160
ESSOP transactions 434     280     $ 154      
Stock-based compensation 1,415     1,415            
Purchase of common stock for treasury stock (3,116)                 (3,116)
Issuance of treasury stock 541     436           105
Balance at end of period at Dec. 31, 2020 $ 361,259   $ 37,221 $ 44,964 $ 314,850     $ 1,313   $ (37,089)
[1] Each common share of stock equals $1 par value; therefore, the number of common shares is the same as the dollar value.