Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

Stock Repurchases

For the fiscal year ended December 31, 2022, the Company repurchased 811,330 shares of the Company’s common stock in the open market at an average price of $96.91 per share, for a total of $78.6 million under the previously announced $100.0 million share repurchase authorization (which expired at the end of 2022). On December 15, 2022, the Company’s Board of Directors authorized the Company to repurchase up to $100.0 million of the Company’s common stock from January 1, 2023 through December 31, 2023.

As of December 31, 2022, the Company retired a total of 811,330 of its common stock and therefore had zero shares of its common stock as treasury shares.

Comprehensive Income or Loss

The following shows the components of accumulated other comprehensive income or loss as of December 31, 2022, 2021, and 2020 respectively:

	Foreign Currency Translation		Pension Benefit		Cash Flow Hedge		Forward Foreign Currency		Total
(in thousands)
Balance as of January 1, 2020	$	(22,080)	$	(2,749)	$	—	$	—	$	(24,829)
Other comprehensive gain/(loss), net of tax effect	14,172		(161)		—		390		14,401
Balance as of December 31, 2020	(7,908)		(2,910)		—		390		(10,428)
Other comprehensive gain/(loss), net of tax effect	(7,313)		404		—		204		(6,705)
Amounts reclassified from accumulative other comprehensive income, net of $0 tax	—		—		—		(472)		(472)
Balance at December 31, 2021	(15,221)		(2,506)		—		122		(17,605)
Other comprehensive gain/(loss), net of tax effect	(20,942)		2,065		42,740		11,898		35,761
Amounts reclassified from accumulative other comprehensive income, net of $0 tax	209		—		(18,987)		(3,437)		(22,215)
Balance at December 31, 2022	$	(35,954)	$	(441)	$	23,753	$	8,583	$	(4,059)