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Stockholders' Equity | 3 Months Ended
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Jun. 30, 2014
Stockholders' Equity |
(2) | STOCKHOLDERS’ EQUITY
Common Stock Repurchase Program In May 2014, the company’s Board of Directors authorized the company to spend up to $200.0 million to repurchase shares of its common stock in open-market or privately-negotiated transactions. The effective period for this authorization is July 1, 2014 through June 30, 2015. The company uses its available cash and, when considered advantageous, borrowings under its revolving credit facility or other borrowings, to fund any share repurchases. The company evaluates share repurchase opportunities relative to other investment opportunities and in the context of current conditions in the credit and capital markets. In May 2013, the company’s Board of Directors authorized the company to spend up to $200 million to repurchase shares of its common stock in open-market or privately-negotiated transactions. The effective period for this authorization was July 1, 2013 through June 30, 2014. No shares were repurchased under the May 2013 program. Dividends The declaration of dividends is at the discretion of the company’s Board of Directors. The Board of Directors declared the following dividends for the quarters ended June 30:
|  |  |  |  | Quarter Ended June 30, |
(In thousands, except dividend per share) |  |  |  |  | 2014 |  |  | 2013 |
Dividends declared |  | $ |  |  |  |  | 12,589 |  |  |  | 12,499 |
Dividend per share |  |  |  |  |  |  | 0.25 |  |  |  | 0.25 |
Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive income by component, net of tax for the quarter ended June 30, 2014 and 2013 are as follows:
|  | For the quarter ended June 30, 2013 |  |  | For the quarter ended June 30, 2014 |
(in thousands) |  | Balance at 3/31/13 |  |  | Gains/(losses) recognized in OCI |  |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 6/30/13 |  |  | Balance at 3/31/14 |  |  | Gains/(losses) recognized in OCI |  |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 6/30/14 |
Available for sale securities |  |  | (121 | ) |  |  | 31 |  |  |  | 80 |  |  |  | 111 |  |  |  | (10 | ) |  |  | 92 |  |  |  | 31 |  |  |  | 70 |  |  |  | 101 |  |  |  | 193 |
Currency translation adjustment |  |  | (9,811 | ) |  |  | --- |  |  |  | --- |  |  |  | --- |  |  |  | (9,811 | ) |  |  | (9,811 | ) |  |  | --- |  |  |  | --- |  |  |  | --- |  |  |  | (9,811 | )
Pension/Post-retirement benefits |  |  | (4,353 | ) |  |  | --- |  |  |  | --- |  |  |  | --- |  |  |  | (4,353 | ) |  |  | (116 | ) |  |  | 131 |  |  |  | --- |  |  |  | 131 |  |  |  | 15 |
Interest rate swap |  |  | (2,856 | ) |  |  | --- |  |  |  | 117 |  |  |  | 117 |  |  |  | (2,739 | ) |  |  | (2,390 | ) |  |  | --- |  |  |  | 116 |  |  |  | 116 |  |  |  | (2,274 | )
Total |  |  | (17,141 | ) |  |  | 31 |  |  |  | 197 |  |  |  | 228 |  |  |  | (16,913 | ) |  |  | (12,225 | ) |  |  | 162 |  |  |  | 186 |  |  |  | 348 |  |  |  | (11,877 | )
The following table summarizes the reclassifications from accumulated other comprehensive loss to the condensed consolidated statement of income for the quarters ended June 30, 2014 and 2013:
|  |  |  |  | Quarter Ended June 30, |  |  | Affected line item in the condensed
(In thousands) |  |  |  |  | 2014 |  |  | 2013 |  |  | consolidated statements of income
Realized gains on available for sale securities |  | $ |  |  |  |  | 108 |  |  |  | 123 |  |  | Interest income and other, net
Amortization of interest rate swap |  |  |  |  |  |  | 178 |  |  |  | 180 |  |  | Interest and other debt costs, net
Total pre-tax amounts |  |  |  |  |  |  | 286 |  |  |  | 303 |  |  |
Tax effect |  |  |  |  |  |  | 100 |  |  |  | 106 |  |  |
Total gains for the period, net of tax |  | $ |  |  |  |  | 186 |  |  |  | 197 |  |  |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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