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Shareholders' equity | 12 Months Ended
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Dec. 31, 2018
Equity [Abstract] |
Shareholders' equity | Shareholders' equity The authorized capital of the Company is comprised of 200 million common shares, $1 par value, and 500,000 preference shares. No preference shares have been outstanding during the last three years. 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 shares outstanding:
| 2018 |  | 2017 |  | 2016
| (Shares in thousands)
Basic | 45,689 |  |  | 45,004 |  |  | 43,325 |
Dilutive effect of share based awards | 970 |  |  | 923 |  |  | 570 |
Dilutive effect of convertible notes and warrants | 142 |  |  | 737 |  |  | 3,751 |
Diluted | 46,801 |  |  | 46,664 |  |  | 47,646 |
Weighted average shares that were antidilutive and therefore excluded from the calculation of diluted earnings per share were approximately 0.6 million, 0.6 million and 3.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. In connection with the issuance by the Company in 2010 of $400 million principal amount of convertible notes that matured in August 2017, and as a component of hedging arrangements between the Company and two institutional counterparties, the Company issued warrants to the counterparties, entitling them to purchase Company common stock. At December 31, 2018, all of the warrants either (a) were canceled as a result of warrant unwind agreements between the Company and the counterparties or (b) were exercised by the counterparties. The following tables provides information relating to the changes in accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2018 and 2017:
| Cash Flow Hedges |  | Pension and Other Postretirement Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive Income (Loss)
| (Dollars in thousands)
Balance at December 31, 2016 | $ | (2,424 | ) |  | $ | (136,596 | ) |  | $ | (299,697 | ) |  | $ | (438,717 | )
Other comprehensive income (loss) before reclassifications | 2,775 |  |  | (6,725 | ) |  | 173,074 |  |  | 169,124 |
Amounts reclassified from accumulated other comprehensive income (loss) | (11 | ) |  | 4,513 |  |  | — |  |  | 4,502 |
Net current-year other comprehensive income (loss) | 2,764 |  |  | (2,212 | ) |  | 173,074 |  |  | 173,626 |
Balance at December 31, 2017 | 340 |  |  | (138,808 | ) |  | (126,623 | ) |  | (265,091 | )
Other comprehensive income (loss) before reclassifications | 2,574 |  |  | 1,605 |  |  | (83,889 | ) |  | (79,710 | )
Amounts reclassified from accumulated other comprehensive income | (2,107 | ) |  | 5,823 |  |  | — |  |  | 3,716 |
Net current-year other comprehensive (loss) income | 467 |  |  | 7,428 |  |  | (83,889 | ) |  | (75,994 | )
Balance at December 31, 2018 | $ | 807 |  |  | $ | (131,380 | ) |  | $ | (210,512 | ) |  | $ | (341,085 | )
The following table provides information relating to the losses (gains) recognized in the statements of income including the reclassifications of losses (gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the years ended December 31, 2018, 2017 and 2016:
| December 31, 2018 |  | December 31, 2017 |  | December 31, 2016
| (Dollars in thousands)
Losses (gains) on designated foreign exchange forward contracts: |  |  |  |  |
Cost of goods sold | $ | (2,270 | ) |  | $ | (95 | ) |  | $ | 4,511 |
Total before tax | (2,270 | ) |  | (95 | ) |  | 4,511 |
Taxes expense (benefit) | 163 |  |  | 84 |  |  | (1,010 | )
Net of tax | $ | (2,107 | ) |  | $ | (11 | ) |  | $ | 3,501 |
Losses (gains) on cross-currency swaps (net investment hedge): |  |  |  |  |
Interest expense | $ | (3,277 | ) |  | $ | — |  |  | $ | — |
Total before tax | (3,277 | ) |  | — |  |  | — |
Tax expense | 754 |  |  | — |  |  | — |
Net of tax | $ | (2,523 | ) |  | $ | — |  |  | $ | — |
Amortization of pension and other postretirement benefits items: |  |  |  |  |
Actuarial losses (1) | $ | 7,305 |  |  | $ | 6,904 |  |  | $ | 6,965 |
Prior-service credits (1) | 251 |  |  | 105 |  |  | 56 |
Total before tax | 7,556 |  |  | 7,009 |  |  | 7,021 |
Tax benefit | (1,733 | ) |  | (2,496 | ) |  | (2,509 | )
Net of tax | $ | 5,823 |  |  | $ | 4,513 |  |  | $ | 4,512 |
Impact on income from continuing operations, net of tax | $ | 1,193 |  |  | $ | 4,502 |  |  | $ | 8,013 |
(1) | These accumulated other comprehensive (loss) income components are included in the computation of net benefit cost of pension and other postretirement benefit plans (see Note 15 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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