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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2019
STOCKHOLDERS' EQUITY |
Components of accumulated other comprehensive loss | Components of accumulated other comprehensive loss were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30 |  | December 31 | ​
​ |  | 2019 |  | 2018 |
​ | ​ | (in thousands) | ​
Pre-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit costs | ​ | $ | (8,685) | ​ | $ | (11,821) | ​
Interest rate swap | ​ | ​ | (364) | ​ | ​ | 801 | ​
Foreign currency translation | ​ |  | (2,355) | ​ |  | (2,816) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (11,404) | ​ | $ | (13,836) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
After-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit costs(1) | ​ | $ | (10,421) | ​ | $ | (12,749) | ​
Interest rate swap | ​ | ​ | (269) | ​ | ​ | 591 | ​
Foreign currency translation | ​ |  | (1,739) | ​ |  | (2,080) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (12,429) | ​ | $ | (14,238) | ​
​
(1) | Includes $4.0 million related to a previous valuation allowance on deferred tax assets for nonunion defined benefit pension liabilities which will be reversed to retained earnings upon extinguishment of the nonunion defined benefit pension plan expected to occur in 2019. The reclassification of stranded income tax effects related to this item is not permitted by ASC Topic 220 which the Company adopted as of January 1, 2018.
​
Summary of 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, 2018 | ​ | $ | (14,238) | ​ | $ | (12,749) | ​ | $ | 591 | ​ | $ | (2,080) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss) before reclassifications | ​ | ​ | 84 | ​ | ​ | 603 | ​ | ​ | (860) | ​ | ​ | 341 | ​
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | 1,725 | ​ | ​ | 1,725 | ​ | ​ | — | ​ | ​ | — | ​
Net current-period other comprehensive income (loss) | ​ | ​ | 1,809 | ​ | ​ | 2,328 | ​ | ​ | (860) | ​ | ​ | 341 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at June 30, 2019 | ​ | $ | (12,429) | ​ | $ | (10,421) | ​ | $ | (269) | ​ | $ | (1,739) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at December 31, 2017 | ​ | $ | (20,574) | ​ | $ | (19,715) | ​ | $ | 292 | ​ | $ | (1,151) | ​
Adjustment to beginning balance of accumulated other comprehensive loss for adoption of accounting standard(1) | ​ | ​ | (3,576) | ​ | ​ | (3,391) | ​ | ​ | 63 | ​ | ​ | (248) | ​
Balances at January 1, 2018 | ​ | ​ | (24,150) | ​ | ​ | (23,106) | ​ | ​ | 355 | ​ | ​ | (1,399) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive income (loss) before reclassifications | ​ |  | 4,377 | ​ |  | 3,890 | ​ | ​ | 779 | ​ |  | (292) | ​
Amounts reclassified from accumulated other comprehensive loss | ​ |  | 1,931 | ​ |  | 1,931 | ​ | ​ | — | ​ |  | — | ​
Net current-period other comprehensive income (loss) | ​ |  | 6,308 | ​ |  | 5,821 | ​ | ​ | 779 | ​ |  | (292) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at June 30, 2018 | ​ | $ | (17,842) | ​ | $ | (17,285) | ​ | $ | 1,134 | ​ | $ | (1,691) | ​
​
(1) | The Company elected to reclassify the stranded income tax effects in accumulated other comprehensive loss to retained earnings as of January 1, 2018 as a result of adopting an amendment to ASC Topic 220.
Summary of the significant reclassifications out of accumulated other comprehensive loss by component | The following is a summary of the significant reclassifications out of accumulated other comprehensive loss by component: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrecognized Net Periodic | ​
​ | ​ | Benefit Costs(1)(2) |
​ | ​ | Six Months Ended June 30 | ​
​ |  | 2019 |  | 2018 |
​ | ​ | (in thousands) |
Amortization of net actuarial loss | ​ | $ | (706) | ​ | $ | (1,562) | ​
Amortization of prior service credit | ​ | ​ | 17 | ​ |  | 47 | ​
Pension settlement expense | ​ | ​ | (1,634) | ​ |  | (1,085) | ​
Total, pre-tax | ​ | ​ | (2,323) | ​ |  | (2,600) | ​
Tax benefit | ​ | ​ | 598 | ​ |  | 669 | ​
Total, net of tax | ​ | $ | (1,725) | ​ | $ | (1,931) | ​
​
(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 G).
Summary of dividends declared | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 | ​
​ |  | Per Share |  | Amount |  | Per Share |  | Amount |
​ | ​ | (in thousands, except per share data)
First quarter | ​ | $ | 0.08 | ​ | $ | 2,052 | ​ | $ | 0.08 | ​ | $ | 2,058 | ​
Second quarter | ​ | $ | 0.08 | ​ | $ | 2,050 | ​ | $ | 0.08 | ​ | $ | 2,058 | ​

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