XML 37 R21.htm IDEA: XBRL DOCUMENT
v3.20.4

Shareholders' Equity | 12 Months Ended
--- | ---
Dec. 31, 2020
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Preferred Stock We have authorized the issuance of 10 million shares of preferred stock with no par value. In the event of a liquidation, dissolution, or winding up of the affairs of the corporation, whether voluntary or involuntary, the holders of any outstanding preferred stock will be entitled to be paid a preferential amount per share to be determined by the Board of Directors prior to any payment to holders of common stock. There was no preferred stock issued or outstanding at December 31, 2020 or 2019. Stock Repurchase Authorization On March 14, 2019, Itron's Board of Directors authorized the Company to repurchase up to $50 million of our common stock over a 12-month period (the 2019 Stock Repurchase Program). Following the announcement of the program and through December 31, 2019, we repurchased 529,396 shares at an average share price of $47.22 (including commissions) for a total of $25 million. The program expired on March 13, 2020, and no additional shares were repurchased during 2020. Accumulated Other Comprehensive Income (Loss) The changes in the components of AOCI, net of tax, were as follows:
In thousands | Foreign Currency Translation Adjustments |  | Net Unrealized Gain (Loss) on Derivative Instruments |  | Net Unrealized Gain (Loss) on Nonderivative Instruments |  | Pension Benefit Obligation Adjustments |  | Accumulated Other Comprehensive Income (Loss)
Balances at January 1, 2018 | $ | (128,648) |  |  | $ | 966 |  |  | $ | (14,380) |  |  | $ | (28,416) |  |  | $ | (170,478) |
OCI before reclassifications | (28,841) |  |  | 2,586 |  |  | — |  |  | 1,653 |  |  | (24,602) |
Amounts reclassified from AOCI | — |  |  | (2,351) |  |  | — |  |  | 1,126 |  |  | (1,225) |
Total other comprehensive income (loss) | (28,841) |  |  | 235 |  |  | — |  |  | 2,779 |  |  | (25,827) |
Balances at December 31, 2018 | $ | (157,489) |  |  | $ | 1,201 |  |  | $ | (14,380) |  |  | $ | (25,637) |  |  | $ | (196,305) |
OCI before reclassifications | (2,953) |  |  | 4,061 |  |  | — |  |  | 1,909 |  |  | 3,017 |
Amounts reclassified from AOCI | 2,443 |  |  | (5,985) |  |  | — |  |  | (7,842) |  |  | (11,384) |
Total other comprehensive income (loss) | (510) |  |  | (1,924) |  |  | — |  |  | (5,933) |  |  | (8,367) |
Balances at December 31, 2019 | $ | (157,999) |  |  | $ | (723) |  |  | $ | (14,380) |  |  | $ | (31,570) |  |  | $ | (204,672) |
OCI before reclassifications | 21,082 |  |  | (7,002) |  |  | — |  |  | (8,689) |  |  | 5,391 |
Amounts reclassified from AOCI | 52,074 |  |  | 6,104 |  |  | — |  |  | 2,577 |  |  | 60,755 |
Total other comprehensive income (loss) | 73,156 |  |  | (898) |  |  | — |  |  | (6,112) |  |  | 66,146 |
Balances at December 31, 2020 | $ | (84,843) |  |  | $ | (1,621) |  |  | $ | (14,380) |  |  | $ | (37,682) |  |  | $ | (138,526) |
The before-tax, income tax (provision) benefit, and net-of-tax amounts related to each component of OCI were as follows:
| Year Ended December 31,
In thousands | 2020 |  | 2019 |  | 2018
Before-tax amount |
Foreign currency translation adjustment | $ | 20,947 |  |  | $ | (2,581) |  |  | $ | (29,130) |
Foreign currency translation adjustment reclassified to net income on sale of business | 52,074 |  |  | 2,443 |  |  | — |
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges | (7,519) |  |  | 4,063 |  |  | 2,908 |
Net hedging (gain) loss reclassified to net income | 6,190 |  |  | (6,605) |  |  | (2,507) |
Net unrealized gain (loss) on defined benefit plans | (8,798) |  |  | 1,966 |  |  | 2,343 |
Net defined benefit plan (gain) loss reclassified to net income | 2,609 |  |  | (8,076) |  |  | 1,596 |
Total other comprehensive income (loss), before tax | 65,503 |  |  | (8,790) |  |  | (24,790) |
Tax (provision) benefit |  |  |  |  |
Foreign currency translation adjustment | 135 |  |  | (372) |  |  | 289 |
Foreign currency translation adjustment reclassified into net income on sale of business | — |  |  | — |  |  | — |
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges | 517 |  |  | (2) |  |  | (322) |
Net hedging (gain) loss reclassified to net income | (86) |  |  | 620 |  |  | 156 |
Net unrealized gain (loss) on defined benefit plans | 109 |  |  | (57) |  |  | (690) |
Net defined benefit plan (gain) loss reclassified to net income | (32) |  |  | 234 |  |  | (470) |
Total other comprehensive income (loss) tax (provision) benefit | 643 |  |  | 423 |  |  | (1,037) |
Net-of-tax amount |  |  |  |  |
Foreign currency translation adjustment | 21,082 |  |  | (2,953) |  |  | (28,841) |
Foreign currency translation adjustment reclassified to net income on sale of business | 52,074 |  |  | 2,443 |  |  | — |
Net unrealized gain (loss) on derivative instruments, designated as cash flow hedges | (7,002) |  |  | 4,061 |  |  | 2,586 |
Net hedging (gain) loss reclassified to net income | 6,104 |  |  | (5,985) |  |  | (2,351) |
Net unrealized gain (loss) on defined benefit plans | (8,689) |  |  | 1,909 |  |  | 1,653 |
Net defined benefit plan (gain) loss reclassified to net income | 2,577 |  |  | (7,842) |  |  | 1,126 |
Total other comprehensive income (loss), net of tax | $ | 66,146 |  |  | $ | (8,367) |  |  | $ | (25,827) |

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration