XML 68 R20.htm IDEA: XBRL DOCUMENT v3.19.3
Shareholders' equity
 9 Months Ended
Sep. 29, 2019
Equity [Abstract]  
Shareholders' equity Shareholders’ equity
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner except that the weighted average number of shares is increased to include dilutive securities. The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:
Three Months EndedNine Months Ended
September 29, 2019September 30, 2018September 29, 2019September 30, 2018
(Shares in thousands)
Basic46,248  45,851  46,156  45,587  
Dilutive effect of share-based awards928  919  895  1,007  
Dilutive effect of convertible warrants—  45  —  191  
Diluted47,176  46,815  47,051  46,785  
The weighted average number of shares that were antidilutive and therefore excluded from the calculation of earnings per share were 0.1 million for the three and nine months ended September 29, 2019 and 0.7 million for the three and nine months ended September 30, 2018.
The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 29, 2019 and September 30, 2018:
Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
(Dollars in thousands)
Balance as of December 31, 2018$807  $(131,380) $(210,512) $(341,085) 
Other comprehensive income (loss) before reclassifications646  215  (27,562) (26,701) 
Amounts reclassified from accumulated other comprehensive income(748) 4,033  —  3,285  
Net current-period other comprehensive (loss) income(102) 4,248  (27,562) (23,416) 
Balance as of September 29, 2019$705  $(127,132) $(238,074) $(364,501) 
 Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
 (Dollars in thousands)
Balance as of December 31, 2017$340  $(138,808) $(126,623) $(265,091) 
Other comprehensive income (loss) before reclassifications2,816  127  (30,130) (27,187) 
Amounts reclassified from accumulated other comprehensive loss(873) 3,984  —  3,111  
Net current-period other comprehensive income (loss)1,943  4,111  (30,130) (24,076) 
Balance as of September 30, 2018$2,283  $(134,697) $(156,753) $(289,167) 
  
The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the three and nine months ended September 29, 2019 and September 30, 2018:
Three Months EndedNine Months Ended
September 29, 2019September 30, 2018September 29, 2019September 30, 2018
(Dollars in thousands)
(Gains) losses on foreign exchange contracts:
Cost of goods sold$(523) $(87) $(888) $(1,038) 
Total before tax(523) (87) (888) (1,038) 
Taxes (benefit)46  25  140  165  
Net of tax$(477) $(62) $(748) $(873) 
Losses (gains) on cross-currency swaps (net investment hedge):
Interest expense$(5,021) $—  $(13,820) $—  
Total before tax(5,021) —  (13,820) —  
Tax expense$1,164  —  3,204  —  
Net of tax(3,857) $—  $(10,616) $—  
Amortization of pension and other postretirement benefit items (1):
Actuarial losses$1,716  $1,640  $5,194  $5,120  
Prior-service costs21  24  65  71  
Total before tax1,737  1,664  5,259  5,191  
Tax benefit(405) (388) (1,226) (1,207) 
Net of tax$1,332  $1,276  $4,033  $3,984  
Total reclassifications, net of tax$(3,002) $1,214  $(7,331) $3,111  
(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.