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Stockholders' Equity
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
Dividends
On February 19, 2020, 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 31, 2020 to holders of record at the close of business on March 18, 2020. During the three months ended March 31, 2019, dividends of $4.8 million were paid to stockholders.
On April 21, 2020, the Board declared a quarterly cash dividend of $0.08 per common share payable on June 2, 2020 to holders of record at the close of business on May 15, 2020.
Stock Repurchase Program
In November 2014, the Board authorized a stock repurchase program (the “November 2014 program”) of up to $75.0 million of the Company’s common stock.
On March 13, 2020, the Board authorized an additional stock repurchase program (the “March 2020 program”) of up to $75.0 million of the Company’s common stock. The March 2020 program supplements the Board’s prior authorization under the November 2014 program, which remains in effect.
The stock repurchase programs are intended primarily to facilitate purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns and manage the Company’s capital structure. Under its stock repurchase programs, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock. 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 three months ended March 31, 2020, the Company repurchased 490,990 shares for a total of $13.5 million under the stock repurchase program. During the three months ended March 31, 2019, the Company repurchased 48,409 shares for a total of $1.0 million under the stock repurchase program. In light of the current uncertainty and volatility resulting from the COVID-19 pandemic, the Company has elected to suspend stock repurchases but may resume such repurchases in the future.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax in the three months ended March 31, 2020 and 2019:
(in millions) (a)
Actuarial Losses
 
Prior Service Costs
 
Foreign
Currency Translation
 
Unrealized Gain (Loss) on Interest Rate Swaps
 
Total
Balance at January 1, 2020
$
(80.4
)
 
$
(2.4
)
 
$
(7.1
)
 
$
0.8

 
$
(89.1
)
Other comprehensive income (loss) before reclassifications
1.1

 
—

 
(6.1
)
 
(3.0
)
 
(8.0
)
Amounts reclassified from accumulated other comprehensive loss
0.7

 
—

 
—

 
(0.1
)
 
0.6

Net current-period other comprehensive income (loss)
1.8

 
—

 
(6.1
)
 
(3.1
)
 
(7.4
)
Balance at March 31, 2020
$
(78.6
)
 
$
(2.4
)
 
$
(13.2
)
 
$
(2.3
)
 
$
(96.5
)
(in millions) (a)
Actuarial Losses
 
Prior Service Costs
 
Foreign
Currency Translation
 
Unrealized Gain (Loss) on Interest Rate Swaps
 
Total
Balance at January 1, 2019
$
(87.4
)
 
$
(2.5
)
 
$
(8.9
)
 
$
1.5

 
$
(97.3
)
Other comprehensive loss before reclassifications
(0.4
)
 
—

 
—

 
(0.2
)
 
(0.6
)
Amounts reclassified from accumulated other comprehensive loss
0.6

 
—

 
—

 
(0.3
)
 
0.3

Net current-period other comprehensive income (loss)
0.2

 
—

 
—

 
(0.5
)
 
(0.3
)
Balance at March 31, 2019
$
(87.2
)
 
$
(2.5
)
 
$
(8.9
)
 
$
1.0

 
$
(97.6
)
(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 March 31, 2020 and 2019 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
 
2020
 
2019
 
(in millions) (a)
 
 
 
 
Amortization of actuarial losses of defined benefit pension plans
 
$
(0.9
)
 
$
(0.8
)
 
Other expense, net
Interest income on interest rate swaps
 
0.1

 
0.4

 
Interest expense
Total before tax
 
(0.8
)
 
(0.4
)
 
 
Income tax benefit
 
0.2

 
0.1

 
Income tax expense
Total reclassifications for the period, net of tax
 
$
(0.6
)
 
$
(0.3
)
 
 

(a)
Amounts in parentheses indicate losses.