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Stockholders' Equity and Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 27, 2020
Stockholders' Equity and Accumulated Other Comprehensive Loss |
Stockholders' Equity and Accumulated Other Comprehensive Loss | Note 7 – Stockholders’ Equity and Accumulated Other Comprehensive Loss In October 2019, the Board of Directors extended through October 31, 2020 Seaboard’s share repurchase program. Under this share repurchase program, Seaboard is authorized to repurchase its common stock from time to time in open market or privately negotiated purchases, which may be above or below the traded market price. During the period that the share repurchase program remains in effect, Seaboard may enter into a 10b5-1 plan authorizing a third party to make such purchases on behalf of Seaboard. All stock repurchased will be made in compliance with applicable legal requirements and funded by cash on hand. The timing of the repurchases and the number of shares repurchased will depend upon market conditions, compliance with Securities and Exchange Commission regulations and other factors. The Board of Directors’ stock repurchase authorization does not obligate Seaboard to acquire a specific amount of common stock, and the stock repurchase program may be suspended at any time at Seaboard’s discretion. As of June 27, 2020, $65 million remained available for repurchase under this program. Seaboard repurchased 0 shares and 4,069 shares of common stock during the three and six months ended June 27, 2020, respectively. The changes in the components of other comprehensive income (loss), net of related taxes, are as follows: ​
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​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended |
​ | ​ | June 27, | ​ | ​ | June 29, | ​ | ​ | June 27, | ​ | ​ | June 29, |
(Millions of dollars) |  | 2020 | ​ |  | 2019 | ​ |  | 2020 | ​ |  | 2019 |
Foreign currency translation adjustment |  | $ | (19) | ​ |  | $ | (9) | ​ |  | $ | (16) | ​ |  | $ | (11) | ​
Unrecognized pension cost (a) | ​ |  | — | ​ | ​ |  | 3 | ​ | ​ |  | 2 | ​ | ​ |  | 6 | ​
Other comprehensive loss, net of tax |  | $ | (19) | ​ |  | $ | (6) | ​ |  | $ | (14) | ​ |  | $ | (5) | ​
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|  | (a) Primarily represents amounts reclassified from accumulated other comprehensive loss to net periodic pension cost representing the amortization of actuarial losses (gains) and other adjustments.
​ ​ The components of accumulated other comprehensive loss, net of related taxes, are as follows: ​
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​ | ​ | June 27, | ​ | December 31, |
(Millions of dollars) |  | 2020 |  | 2019 |
Cumulative foreign currency translation adjustment | ​ | $ | (385) | ​ | $ | (369) | ​
Cumulative unrecognized pension cost | ​ |  | (69) | ​ |  | (71) | ​
Total accumulated other comprehensive loss | ​ | $ | (454) | ​ | $ | (440) | ​
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- References No definition available. + Details
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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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