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Stockholders' Equity
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Dividends
On February 19, 2019, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.08 per common share. The dividend totaled $4.8 million and was distributed on March 29, 2019 to holders of record at the close of business on March 18, 2019.
On April 30, 2019, the Board declared a quarterly cash dividend of $0.08 per common share. The dividend totaled $4.8 million and was distributed on May 30, 2019 to holders of record at the close of business on May 15, 2019.
On July 30, 2019, the Board declared a quarterly cash dividend of $0.08 per common share. The dividend totaled $4.9 million and was distributed on August 28, 2019 to holders of record at the close of business on August 14, 2019.
During the three and nine months ended September 30, 2018, dividends of $4.8 million and $13.8 million, respectively, were paid to stockholders.
On October 29, 2019, the Board declared a quarterly cash dividend of $0.08 per common share payable on November 26, 2019 to holders of record at the close of business on November 13, 2019.
Stock Repurchase Program
In November 2014, the Board authorized a stock repurchase program of up to $75.0 million of the Company’s common stock. The stock repurchase program is intended primarily to facilitate opportunistic purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns and manage the Company’s capital structure. Under the stock repurchase program, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock in the open market or through privately negotiated transactions. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended or discontinued at any time.
During the nine months ended September 30, 2019, the Company repurchased 48,409 shares for a total of $1.0 million under the stock repurchase program.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax:
Three Months Ended September 30, 2019 and 2018
(in millions) (a)
Actuarial Losses
 
Prior Service Costs
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at July 1, 2019
$
(86.0
)
 
$
(2.4
)
 
$
(8.1
)
 
$
0.3

 
$
(96.2
)
Other comprehensive income (loss) before reclassifications
0.5

 
—

 
(3.8
)
 
0.1

 
(3.2
)
Amounts reclassified from accumulated other comprehensive loss
0.8

 
—

 
—

 
(0.2
)
 
0.6

Net current-period other comprehensive income (loss)
1.3

 
—

 
(3.8
)
 
(0.1
)
 
(2.6
)
Balance at September 30, 2019
$
(84.7
)
 
$
(2.4
)
 
$
(11.9
)
 
$
0.2

 
$
(98.8
)
(in millions) (a)
Actuarial Losses
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at July 1, 2018
$
(73.6
)
 
$
(5.7
)
 
$
2.0

 
$
(77.3
)
Other comprehensive income (loss) before reclassifications
0.2

 
(0.4
)
 
0.3

 
0.1

Amounts reclassified from accumulated other comprehensive loss
0.8

 
—

 
(0.2
)
 
0.6

Net current-period other comprehensive income (loss)
1.0

 
(0.4
)
 
0.1

 
0.7

Balance at September 30, 2018
$
(72.6
)
 
$
(6.1
)
 
$
2.1

 
$
(76.6
)
Nine months ended September 30, 2019 and 2018
(in millions) (a)
Actuarial Losses
 
Prior Service Costs
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at January 1, 2019
$
(87.4
)
 
$
(2.5
)
 
$
(8.9
)
 
$
1.5

 
$
(97.3
)
Other comprehensive income (loss) before reclassifications
0.7

 
—

 
(3.0
)
 
(0.6
)
 
(2.9
)
Amounts reclassified from accumulated other comprehensive loss
2.0

 
0.1

 
—

 
(0.7
)
 
1.4

Net current-period other comprehensive income (loss)
2.7

 
0.1

 
(3.0
)
 
(1.3
)
 
(1.5
)
Balance at September 30, 2019
$
(84.7
)
 
$
(2.4
)
 
$
(11.9
)
 
$
0.2

 
$
(98.8
)
(in millions) (a)
Actuarial Losses
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at January 1, 2018
$
(75.4
)
 
$
(2.5
)
 
$
1.0

 
$
(76.9
)
Other comprehensive income (loss) before reclassifications
0.6

 
(3.6
)
 
1.4

 
(1.6
)
Amounts reclassified from accumulated other comprehensive loss
2.2

 
—

 
(0.3
)
 
1.9

Net current-period other comprehensive income (loss)
2.8

 
(3.6
)
 
1.1

 
0.3

Balance at September 30, 2018
$
(72.6
)
 
$
(6.1
)
 
$
2.1

 
$
(76.6
)
(a)
Amounts in parentheses indicate losses.
The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the three months ended September 30, 2019 and 2018 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified from Accumulated Other Comprehensive Loss
 
Affected Line Item in Condensed Consolidated Statements of Operations
 
2019
 
2018
 
(in millions) (a)
 
 
 
 
Amortization of actuarial losses of defined benefit pension plans
 
$
(1.0
)
 
$
(1.0
)
 
Other expense, net
Interest rate swap
 
0.2

 
0.2

 
Interest expense
Total before tax
 
(0.8
)
 
(0.8
)
 
 
Income tax benefit
 
0.2

 
0.2

 
Income tax expense
Total reclassifications for the period, net of tax
 
$
(0.6
)
 
$
(0.6
)
 
 

(a)
Amounts in parentheses indicate losses.
The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, in the nine months ended September 30, 2019 and 2018 and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified from Accumulated Other Comprehensive Loss
 
Affected Line Item in Condensed Consolidated Statements of Operations
 
2019
 
2018
 
(in millions) (a)
 
 
 
 
Amortization of actuarial losses of defined benefit pension plans
 
$
(2.5
)
 
$
(2.8
)
 
Other expense, net
Amortization of prior service costs of defined benefit pension plans
 
(0.1
)
 
—

 
Other expense, net
Interest rate swap
 
0.9

 
0.4

 
Interest expense
Total before tax
 
(1.7
)
 
(2.4
)
 
 
Income tax benefit
 
0.3

 
0.5

 
Income tax expense
Total reclassifications for the period, net of tax
 
$
(1.4
)
 
$
(1.9
)
 
 
(a)
Amounts in parentheses indicate losses.