XML 33 R17.htm IDEA: XBRL DOCUMENT v3.4.0.3
Stockholders' Equity
 3 Months Ended
Mar. 31, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders' Equity    

Stock Repurchase

On February 25, 2015, our Board of Directors (Board) authorized a two million share repurchase program (Program) pursuant to which we may, from time to time, purchase shares of our common stock through various means including, without limitation, open market transactions, privately negotiated transactions, or accelerated share repurchase transactions. We are not obligated to purchase any shares and there is no set date that the Program will expire. The Board may increase or decrease the number of shares under the Program or terminate the Program in its discretion at any time. During the first quarter 2016, we repurchased 180,100 shares under the Program at a cost of $2.6 million, or an average of $14.62 per share. The shares were purchased with cash on hand and are recorded as "Treasury stock" on our Consolidated Balance Sheet. As of March 31, 2016, there were 1,096,989 shares of common stock that may yet be purchased under the Program.

Accumulated Other Comprehensive Loss

The following table details the changes in accumulated other comprehensive loss for the three months ended March 31, 2016 and 2015:

 
Three Months Ended
March 31
 
2016
 
2015
 
(thousands)
Beginning Balance, net of taxes
$
(93,015
)
 
$
(101,498
)
Amortization of actuarial loss, before taxes (a)
478

 
1,598

Effect of settlements, before taxes (a)
297

 
501

Income taxes
(298
)
 
(805
)
Ending Balance, net of taxes
$
(92,538
)
 
$
(100,204
)
___________________________________ 
 
(a)
Represents amounts reclassified from accumulated other comprehensive loss. These amounts are included in the computation of net periodic pension cost. For additional information, see Note 8, Retirement and Benefit Plans.