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Shareholders' equity | 6 Months Ended
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Jul. 01, 2018
Equity [Abstract] |
Shareholders' equity | Note 10 — Shareholders’ equity Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner except that the weighted average number of shares is increased to include dilutive securities. The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:
| Three Months Ended |  | Six Months Ended
| July 1, 2018 |  | July 2, 2017 |  | July 1, 2018 |  | July 2, 2017
| (Shares in thousands)
Basic | 45,581 |  |  | 44,996 |  |  | 45,455 |  |  | 44,945 |
Dilutive effect of share-based awards | — |  |  | 866 |  |  | 1,052 |  |  | 843 |
Dilutive effect of convertible notes and warrants | — |  |  | 956 |  |  | 264 |  |  | 928 |
Diluted | 45,581 |  |  | 46,818 |  |  | 46,771 |  |  | 46,716 |
The weighted average number of shares that were antidilutive and therefore excluded from the calculation of earnings per share were 2.0 million (inclusive of 1.2 million potentially dilutive shares that were excluded because of the net loss for the three months ended July 1, 2018) and 0.7 million for the three and six months ended July 1, 2018, respectively, and 0.7 million and 0.6 million for the three and six months ended July 2, 2017, respectively. In connection with the issuance by the Company in 2010 of convertible notes that matured in August 2017, and as part of hedging arrangements between the Company and two institutional counterparties, the Company issued warrants to the counterparties, entitling them to purchase Company common stock. These transactions are described in greater detail in Note 11 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017. At July 1, 2018, warrants to purchase 197,274 shares at an exercise price of $74.65 per share remained outstanding. The remaining warrants expire ratably over a period ending on August 31, 2018. At July 1, 2018, the intrinsic value of the warrants (i.e. the excess of the aggregate market price of the underlying shares over the aggregate exercise price of the warrants) was $38.5 million. The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the six months ended July 1, 2018 and July 2, 2017:
| Cash Flow Hedges |  | Pension and Other Postretirement Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive (Loss) Income
| (Dollars in thousands)
Balance as of December 31, 2017 | $ | 340 |  |  | $ | (138,808 | ) |  | $ | (126,623 | ) |  | $ | (265,091 | )
Other comprehensive income (loss) before reclassifications | 1,103 |  |  | 188 |  |  | (44,517 | ) |  | (43,226 | )
Amounts reclassified from accumulated other comprehensive income | (811 | ) |  | 2,708 |  |  | — |  |  | 1,897 |
Net current-period other comprehensive income (loss) | 292 |  |  | 2,896 |  |  | (44,517 | ) |  | (41,329 | )
Balance as of July 1, 2018 | $ | 632 |  |  | $ | (135,912 | ) |  | $ | (171,140 | ) |  | $ | (306,420 | )
| Cash Flow Hedges |  | Pension and Other Postretirement Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive (Loss) Income
| (Dollars in thousands)
Balance at December 31, 2016 | $ | (2,424 | ) |  | $ | (136,596 | ) |  | $ | (299,697 | ) |  | $ | (438,717 | )
Other comprehensive (loss) before reclassifications | 2,684 |  |  | (669 | ) |  | 112,667 |  |  | 114,682 |
Amounts reclassified from accumulated other comprehensive loss | 2,477 |  |  | 2,263 |  |  | — |  |  | 4,740 |
Net current-period other comprehensive income | 5,161 |  |  | 1,594 |  |  | 112,667 |  |  | 119,422 |
Balance at July 2, 2017 | $ | 2,737 |  |  | $ | (135,002 | ) |  | $ | (187,030 | ) |  | $ | (319,295 | )
The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the three and six months ended July 1, 2018 and July 2, 2017:
| Three Months Ended |  | Six Months Ended
| July 1, 2018 |  | July 2, 2017 |  | July 1, 2018 |  | July 2, 2017
| (Dollars in thousands)
(Gains) losses on foreign exchange contracts: |  |  |  |  |  |  |
Cost of goods sold | $ | (118 | ) |  | $ | 1,303 |  |  | $ | (951 | ) |  | $ | 2,948 |
Total before tax | (118 | ) |  | 1,303 |  |  | (951 | ) |  | 2,948 |
Taxes (benefit) | 27 |  |  | (204 | ) |  | 140 |  |  | (471 | )
Net of tax | $ | (91 | ) |  | $ | 1,099 |  |  | $ | (811 | ) |  | $ | 2,477 |
Amortization of pension and other postretirement benefit items(1):
Actuarial losses | $ | 1,734 |  |  | $ | 1,727 |  |  | $ | 3,480 |  |  | $ | 3,453 |
Prior-service costs | 23 |  |  | 30 |  |  | 47 |  |  | 59 |
Total before tax | 1,757 |  |  | 1,757 |  |  | 3,527 |  |  | 3,512 |
Tax benefit | (408 | ) |  | (625 | ) |  | (819 | ) |  | (1,249 | )
Net of tax | $ | 1,349 |  |  | $ | 1,132 |  |  | $ | 2,708 |  |  | $ | 2,263 |
Total reclassifications, net of tax | $ | 1,258 |  |  | $ | 2,231 |  |  | $ | 1,897 |  |  | $ | 4,740 |
(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans (see Note 12 for additional information).

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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