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STOCKHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2015
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | NOTE J – STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Loss Components of accumulated other comprehensive loss were as follows at December 31:
|  |  | 2015 |  | 2014 |  | 2013 |
|  |  | (in thousands) |
Pre-tax amounts: |  |  |  |  |  |  |  |  |  |  |
Unrecognized net periodic benefit costs(1) |  |  | $ | (35,231) |  | $ | (30,140) |  | $ | (17,044) |
Interest rate swap |  |  |  | (897) |  |  | (576) |  |  | — |
Foreign currency translation |  |  |  | (2,379) |  |  | (1,216) |  |  | (863) |
Total |  |  | $ | (38,507) |  | $ | (31,932) |  | $ | (17,907) |
After-tax amounts: |  |  |  |  |  |  |  |  |  |  |
Unrecognized net periodic benefit costs(1) |  |  | $ | (25,497) |  | $ | (22,387) |  | $ | (14,386) |
Interest rate swap |  |  |  | (545) |  |  | (350) |  |  | — |
Foreign currency translation |  |  |  | (1,454) |  |  | (742) |  |  | (526) |
Total |  |  | $ | (27,496) |  | $ | (23,479) |  | $ | (14,912) |
| (1) |  | The increase in unrecognized net periodic benefit costs for 2015 primarily reflected the impact of increases in the unrecognized net actuarial loss of $4.2 million ($2.5 million after‑tax) related to the nonunion defined benefit pension plan, primarily due to the difference in actual return on plan assets versus the assumed return offset, in part, by pension settlement expense and amortization of net actuarial losses. The increase in unrecognized net periodic benefit costs for 2014 reflected the impact of increases in the unrecognized net actuarial loss $8.3 million ($5.1 million after-tax) related to the nonunion defined benefit pension plan and $5.2 million ($3.2 million after‑tax) related to the postretirement health benefit plan, primarily due to decreases in the discount rates used to remeasure the plan obligations. The nonunion defined benefit pension plan is discussed further in Note I.
T he following is a summary of the changes in accumulated other comprehensive loss, net of tax, by component:
|  |  |  |  | Unrecognized |  |  | Interest |  | Foreign |
|  |  |  |  | Net Periodic |  |  | Rate |  | Currency |
|  | Total |  | Benefit Costs |  |  | Swap |  | Translation |
|  | (in thousands) |
Balances at December 31, 2013 |  | $ | (14,912) |  | $ | (14,386) |  | $ | — |  | $ | (526) |
Other comprehensive loss before reclassifications |  |  | (14,133) |  |  | (13,567) |  |  | (350) |  |  | (216) |
Amounts reclassified from accumulated other comprehensive loss |  |  | 5,566 |  |  | 5,566 |  |  | — |  |  | — |
Net current-period other comprehensive loss |  |  | (8,567) |  |  | (8,001) |  |  | (350) |  |  | (216) |
Balances at December 31, 2014 |  | $ | (23,479) |  | $ | (22,387) |  | $ | (350) |  | $ | (742) |
Other comprehensive loss before reclassifications |  |  | (8,442) |  |  | (7,535) |  |  | (195) |  |  | (712) |
Amounts reclassified from accumulated other comprehensive loss |  |  | 4,425 |  |  | 4,425 |  |  | — |  |  | — |
Net current-period other comprehensive loss |  |  | (4,017) |  |  | (3,110) |  |  | (195) |  |  | (712) |
Balances at December 31, 2015 |  | $ | (27,496) |  | $ | (25,497) |  | $ | (545) |  | $ | (1,454) |
The following is a summary of the significant reclassifications out of accumulated other comprehensive loss by component for the years ended December 31:
|  | Unrecognized Net Periodic |
|  | Benefit Costs(1)(2) |
|  | 2015 |  | 2014 |
|  | (in thousands) |
Amortization of net actuarial loss |  | $ | (4,230) |  | $ | (2,705) |
Amortization of prior service credit |  |  | 190 |  |  | 190 |
Pension settlement expense |  |  | (3,202) |  |  | (6,595) |
Total, pre-tax |  |  | (7,242) |  |  | (9,110) |
Tax benefit |  |  | 2,817 |  |  | 3,544 |
Total, net of tax |  | $ | (4,425) |  | $ | (5,566) |
| (1) |  | Amounts in parentheses indicate increases in expense or loss.
| (2) |  | These components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (see Note I).
Dividends on Common Stock The following table is a summary of dividends declared during the applicable quarter:
|  | 2015 |  | 2014 |
|  | Per Share |  | Amount |  | Per Share |  | Amount |
|  | (in thousands, except per share data)
First quarter |  | $ | 0.06 |  | $ | 1,584 |  | $ | 0.03 |  | $ | 819 |
Second quarter |  | $ | 0.06 |  | $ | 1,578 |  | $ | 0.03 |  | $ | 816 |
Third quarter |  | $ | 0.06 |  | $ | 1,578 |  | $ | 0.03 |  | $ | 823 |
Fourth quarter |  | $ | 0.08 |  | $ | 2,097 |  | $ | 0.06 |  | $ | 1,644 |
On January 27, 2016, the Company’s Board of Directors declared a dividend of $0.08 per share payable to stockholders of record on February 10, 2016. Treasury Stock The Company has a program to repurchase its common stock in the open market or in privately negotiated transactions. The program has no expiration date but may be terminated at any time at the Board of Directors’ discretion. Repurchases may be made using the Company’s cash reserves or other available sources. In October 2015, the Board of Directors extended the share repurchase program, making a total of $50.0 million available for purchases of the Company’s common stock. During 2015, the Company purchased 402,255 shares for an aggregate cost of $12.8 million, leaving $47.2 million available for repurchase under the program as of December 31, 2015. Treasury shares totaled 2,080,187 and 1,677,932 as of December 31, 2015 and 2014, respectively. As of February 22, 2016, the Company had purchase d an additional 104,002 shares of its common stock for an aggregate cost of $2.0 million, leaving $45.2 million available for repurchase under the current buyback program.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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