Shareholders' equity

12 Months Ended

Dec. 31, 2020

Stock Repurchases

For the fiscal year ended December 31, 2020, the Company repurchased 1,053,314 shares of the Company’s common stock in the open market at an average price of $72.33 per share, for a total of $76.2 million. As of December 31, 2020, approximately $23.8 million was not used for repurchase under the previously announced $100.0 million share repurchase authorization (which expired at the end of 2020). On December 16, 2020, 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, 2021 through December 31, 2021.

As of December 31, 2020, the Company held 150,974 shares of its common stock as treasury shares and in 2020, retired a total of 1,028,328 of its common stock.

Comprehensive Income or Loss

The following shows the components of accumulated other comprehensive income or loss as of December 31, 2020 and 2019, respectively:


	Foreign Currency Translation		Pension Benefit		Derivative Instruments		Total
(in thousands)
Balance at January 1, 2018	$	(10,054)	$	(2,442)	$	—	$	(12,496)
Other comprehensive gain/(loss), net of tax effect	(12,911)		757		—		(12,154)
Balance at December 31, 2018	(22,965)		(1,685)		—		(24,650)
Other comprehensive gain/(loss), net of tax effect	885		(1,064)		—		(179)

Balance at December 31, 2019	(22,080)		(2,749)		—		(24,829)
Other comprehensive gain/(loss), net of tax effect	14,172		(161)		390		14,401

Balance at December 31, 2020	$	(7,908)	$	(2,910)	$	390	$	(10,428)