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Stockholders' Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS’ EQUITY
The Company’s Board of Directors (the “Board”) has the authority to issue 90.0 million shares of common stock at a par value of $1 per share. The holders of common stock (i) may receive dividends subject to all of the rights of the holders of preference stock, (ii) shall be entitled to share ratably upon any liquidation of the Company in the assets of the Company, if any, remaining after payment in full to the holders of preference stock and (iii) receive one vote for each common share held and shall vote together share for share with the holders of voting shares of preference stock as one class for the election of directors and for all other purposes. The Company had 69.5 million and 68.9 million common shares issued as of December 31, 2022 and 2021, respectively. Of those amounts, 60.7 million and 60.9 million common shares were outstanding as of December 31, 2022 and 2021, respectively.
The Board is also authorized to provide for the issuance of 0.8 million shares of preference stock at a par value of $1 per share. The authority of the Board includes, but is not limited to, the determination of the dividend rate, voting rights, conversion and redemption features and liquidation preferences. The Company has not designated or issued any preference stock as of December 31, 2022.
Dividends
The Company declared and paid dividends totaling $21.8 million, $22.0 million and $19.4 million during 2022, 2021 and 2020, respectively.
On February 14, 2023, the Board declared a quarterly cash dividend of $0.09 per common share payable on March 31, 2023 to stockholders of record at the close of business on March 17, 2023.
Stock Repurchase Program
In March 2020, the Board authorized a stock repurchase program of up to $75.0 million of the Company’s common stock, with the remaining authorization under our previously described repurchase program adopted in November 2014 being subject to the March 2020 program.
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 its 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 year ended December 31, 2022, the Company repurchased 472,381 shares for a total of $16.1 million under the stock repurchase program. During the year ended December 31, 2021, the Company repurchased 361,804 shares for a total of $15.4 million under the stock repurchase program. During the year ended December 31, 2020, the Company repurchased 498,217 shares for a total of $13.7 million under the stock repurchase program.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax:
(in millions) (a)
Actuarial LossesPrior Service CostsForeign
Currency Translation		Interest Rate Swaps Total
Balance at January 1, 2022$(67.9)$(2.4)$(3.4)$(0.5)$(74.2)
Other comprehensive (loss) income before reclassifications(2.9)0.3 (12.6)2.9 (12.3)
Amounts reclassified from accumulated other comprehensive loss2.2 0.1 — 0.2 2.5 
Net current-period other comprehensive (loss) income(0.7)0.4 (12.6)3.1 (9.8)
Balance at December 31, 2022$(68.6)$(2.0)$(16.0)$2.6 $(84.0)
(a) Amounts in parentheses indicate losses.
(in millions) (a)
Actuarial Losses (b)
Prior Service CostsForeign
Currency Translation		Interest Rate SwapsTotal
Balance at January 1, 2021$(88.2)$(2.6)$1.3 $(2.2)$(91.7)
Other comprehensive income (loss) before reclassifications9.1 — (4.7)1.0 5.4 
Amounts reclassified from accumulated other comprehensive loss11.2 0.2 — 0.7 12.1 
Net current-period other comprehensive income (loss)20.3 0.2 (4.7)1.7 17.5 
Balance at December 31, 2021$(67.9)$(2.4)$(3.4)$(0.5)$(74.2)
(a)    Amounts in parentheses indicate losses.
(b)     During the year ended December 31, 2021, the Company reclassified $10.3 million of actuarial losses from Accumulated other comprehensive loss to Pension settlement charges on the Consolidated Statements of Operations, in connection with the purchase of a group annuity contract from an insurance company. See Note 11 - Pension and Other Post-Employment Plans for further discussion.
The following table summarizes the amounts reclassified from Accumulated other comprehensive loss, net of tax, and the affected line item in the Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss ComponentsAmount Reclassified from Accumulated Other Comprehensive LossAffected Line Item in Consolidated Statements of Operations
For the Years Ended December 31,
20222021
(in millions) (a)
Amortization of actuarial losses of defined benefit pension plans$(2.9)$(4.7)Other (income) expense, net
Recognition of actuarial losses associated with pension settlement— (10.3)Pension settlement charges
Amortization of prior service costs of defined benefit pension plans(0.1)(0.2)Other (income) expense, net
Interest rate swaps(0.2)(0.9)Interest expense
Total before tax(3.2)(16.1)
Income tax benefit0.7 4.0 Income tax expense
Total reclassifications for the period, net of tax$(2.5)$(12.1)
(a)    Amount in parentheses indicate expenses on the Consolidated Statements of Operations.