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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2019
STOCKHOLDERS' EQUITY |
Components of accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30 |  | December 31 | ​
​ |  | 2019 |  | 2018 |
​ | ​ | (in thousands) | ​
Pre-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit costs | ​ | $ | (7,068) | ​ | $ | (11,821) | ​
Interest rate swap | ​ | ​ | (822) | ​ | ​ | 801 | ​
Foreign currency translation | ​ |  | (2,402) | ​ |  | (2,816) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (10,292) | ​ | $ | (13,836) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
After-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit costs | ​ | $ | (5,249) | ​ | $ | (12,749) | ​
Interest rate swap | ​ | ​ | (607) | ​ | ​ | 591 | ​
Foreign currency translation | ​ |  | (1,774) | ​ |  | (2,080) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (7,630) | ​ | $ | (14,238) | ​
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 | ​ | ​ | (1,183) | ​ | ​ | (291) | ​ | ​ | (1,198) | ​ | ​ | 306 | ​
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | 7,791 | ​ | ​ | 7,791 | ​ | ​ | — | ​ | ​ | — | ​
Net current-period other comprehensive income (loss) | ​ | ​ | 6,608 | ​ | ​ | 7,500 | ​ | ​ | (1,198) | ​ | ​ | 306 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at September 30, 2019 | ​ | $ | (7,630) | ​ | $ | (5,249) | ​ | $ | (607) | ​ | $ | (1,774) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ |  | (1,206) | ​ |  | (1,987) | ​ | ​ | 946 | ​ |  | (165) | ​
Amounts reclassified from accumulated other comprehensive loss | ​ |  | 2,736 | ​ |  | 2,736 | ​ | ​ | — | ​ |  | — | ​
Net current-period other comprehensive income (loss) | ​ |  | 1,530 | ​ |  | 749 | ​ | ​ | 946 | ​ |  | (165) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at September 30, 2018 | ​ | $ | (22,620) | ​ | $ | (22,357) | ​ | $ | 1,301 | ​ | $ | (1,564) | ​
​
(1) | The Company elected to reclassify certain 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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrecognized Net Periodic | ​
​ | ​ | Benefit Costs(1)(2) |
​ | ​ | Nine Months Ended September 30 | ​
​ |  | 2019 |  | 2018 |
​ | ​ | (in thousands) |
Amortization of net actuarial loss(3) | ​ | $ | (1,005) | ​ | $ | (2,152) | ​
Amortization of prior service credit | ​ | ​ | 25 | ​ |  | 70 | ​
Pension settlement expense, including termination expense(3)(4) | ​ | ​ | (8,135) | ​ |  | (1,603) | ​
Total, pre-tax | ​ | ​ | (9,115) | ​ |  | (3,685) | ​
Tax benefit | ​ | ​ | 1,324 | ​ |  | 949 | ​
Total, net of tax(3) | ​ | $ | (7,791) | ​ | $ | (2,736) | ​
​
(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 as disclosed in Note G.
(3) | For the nine months ended September 30, 2019, amounts included in accumulated other comprehensive loss related to the nonunion defined benefit pension plan were reclassed to net income in their entirety upon settlement of the pension plan obligations in third quarter 2019. These amounts include amortization of net actuarial loss of $0.3 million (pre-tax) and pension settlement expense, including termination expense, of $8.1 million (pre-tax) which were recognized in the “Other, net” line of other income (costs). These reclassifications impacted net income by $7.3 million for the nine months ended September 30, 2019.
(4) | The nine months ended September 30, 2019 includes a $4.0 million noncash pension termination expense (with no tax benefit) related to an amount which was stranded in accumulated other comprehensive loss until the pension benefit obligation was settled upon plan termination (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 | ​
Third quarter | ​ | $ | 0.08 | ​ | $ | 2,043 | ​ | $ | 0.08 | ​ | $ | 2,060 | ​

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