Shareholders' equity (Tables)

9 Months Ended

Sep. 29, 2019

Reconciliation of Basic to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:


	Three Months Ended			Nine Months Ended
	September 29, 2019	September 30, 2018	September 29, 2019	September 30, 2018
	(Shares in thousands)
Basic	46,248	45,851	46,156	45,587
Dilutive effect of share-based awards	928	919	895	1,007
Dilutive effect of convertible warrants	—	45	—	191
Diluted	47,176	46,815	47,051	46,785

Change in Accumulated Other Comprehensive Income (Loss)

The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 29, 2019 and September 30, 2018:


	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, 2018	$	807	$	(131,380)	$	(210,512)	$	(341,085)
Other comprehensive income (loss) before reclassifications	646		215		(27,562)		(26,701)
Amounts reclassified from accumulated other comprehensive income	(748)		4,033		—		3,285
Net current-period other comprehensive (loss) income	(102)		4,248		(27,562)		(23,416)

Balance as of September 29, 2019	$	705	$	(127,132)	$	(238,074)	$	(364,501)


	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	2,816		127		(30,130)		(27,187)
Amounts reclassified from accumulated other comprehensive loss	(873)		3,984		—		3,111
Net current-period other comprehensive income (loss)	1,943		4,111		(30,130)		(24,076)

Balance as of September 30, 2018	$	2,283	$	(134,697)	$	(156,753)	$	(289,167)

Reclassification of Gain/Losses into Income/Expense, Net of Tax

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 nine months ended September 29, 2019 and September 30, 2018:


	Three Months Ended						Nine Months Ended
	September 29, 2019		September 30, 2018		September 29, 2019		September 30, 2018
	(Dollars in thousands)
(Gains) losses on foreign exchange contracts:
Cost of goods sold	$	(523)	$	(87)	$	(888)	$	(1,038)
Total before tax	(523)		(87)		(888)		(1,038)
Taxes (benefit)	46		25		140		165
Net of tax	$	(477)	$	(62)	$	(748)	$	(873)
Losses (gains) on cross-currency swaps (net investment hedge):
Interest expense	$	(5,021)	$	—	$	(13,820)	$	—
Total before tax	(5,021)		—		(13,820)		—
Tax expense	$	1,164	—		3,204		—
Net of tax	(3,857)		$	—	$	(10,616)	$	—
Amortization of pension and other postretirement benefit items ₍₁₎:
Actuarial losses	$	1,716	$	1,640	$	5,194	$	5,120
Prior-service costs	21		24		65		71

Total before tax	1,737		1,664		5,259		5,191
Tax benefit	(405)		(388)		(1,226)		(1,207)
Net of tax	$	1,332	$	1,276	$	4,033	$	3,984
Total reclassifications, net of tax	$	(3,002)	$	1,214	$	(7,331)	$	3,111

(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.