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STOCKHOLDERS' EQUITY | 3 Months Ended
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Mar. 31, 2025
STOCKHOLDERS' EQUITY |
STOCKHOLDERS' EQUITY | NOTE G – STOCKHOLDERS’ EQUITY ​ Accumulated Other Comprehensive Income (Loss) ​ Components of accumulated other comprehensive income (loss) were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31 |  | December 31 | ​
​ |  | 2025 |  | 2024 |
​ | ​ | (in thousands) | ​
Pre-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit credit | ​ | $ | 5,450 | ​ | $ | 5,660 | ​
Foreign currency translation | ​ |  | (5,576) | ​ |  | (5,323) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (126) | ​ | $ | 337 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
After-tax amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrecognized net periodic benefit credit | ​ | $ | 4,047 | ​ | $ | 4,203 | ​
Foreign currency translation | ​ |  | (4,118) | ​ |  | (3,931) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | (71) | ​ | $ | 272 | ​
​ ​ ​ The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for March 31, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Unrecognized | ​ | Interest | ​ | Foreign | ​
​ | ​ | ​ | ​ | ​ | Net Periodic | ​ | Rate | ​ | Currency | ​
​ |  | Total |  | Benefit Credit |  | Swap |  | Translation |
​ | ​ | (in thousands) | ​
Balances at December 31, 2024 | ​ | $ | 272 | ​ | $ | 4,203 | ​ | $ | — | ​ | $ | (3,931) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive loss before reclassifications | ​ | ​ | (187) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (187) | ​
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | (156) | ​ | ​ | (156) | ​ | ​ | — | ​ | ​ | — | ​
Net current-period other comprehensive loss | ​ | ​ | (343) | ​ | ​ | (156) | ​ | ​ | — | ​ | ​ | (187) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at March 31, 2025 | ​ | $ | (71) | ​ | $ | 4,047 | ​ | $ | — | ​ | $ | (4,118) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at December 31, 2023 | ​ | $ | 4,324 | ​ | $ | 5,061 | ​ | $ | 1,263 | ​ | $ | (2,000) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive loss before reclassifications | ​ |  | (792) | ​ |  | — | ​ | ​ | (366) | ​ |  | (426) | ​
Amounts reclassified from accumulated other comprehensive income | ​ |  | (187) | ​ |  | (187) | ​ | ​ | — | ​ |  | — | ​
Net current-period other comprehensive loss | ​ |  | (979) | ​ |  | (187) | ​ | ​ | (366) | ​ |  | (426) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balances at March 31, 2024 | ​ | $ | 3,345 | ​ | $ | 4,874 | ​ | $ | 897 | ​ | $ | (2,426) | ​
​ The following is a summary of the significant reclassifications out of accumulated other comprehensive income (loss) by component: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrecognized Net Periodic | ​
​ | ​ | Benefit Credit |
​ | ​ | Three Months Ended March 31 | ​
​ |  | 2025 |  | 2024 |
​ | ​ | (in thousands) |
Amortization of net actuarial gain, pre-tax(1) | ​ | $ | 210 | ​ | $ | 252 | ​
Tax expense | ​ | ​ | (54) | ​ |  | (65) | ​
Total, net of tax | ​ | $ | 156 | ​ | $ | 187 | ​
​
(1) | Included in the computation of net periodic benefit credit of the Company’s supplemental benefit plan (“SBP”) and postretirement health benefit plan.
​ Dividends on Common Stock ​ The following table is a summary of dividends declared during the applicable quarter: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025 | ​ | 2024 | ​
​ |  | Per Share |  | Amount |  | Per Share |  | Amount |
​ | ​ | (in thousands, except per share data)
First quarter | ​ | $ | 0.12 | ​ | $ | 2,785 | ​ | $ | 0.12 | ​ | $ | 2,828 | ​
​ On April 25, 2025, the Company announced its Board of Directors declared a dividend of $0.12 per share to stockholders of record as of May 09, 2025. ​ Treasury Stock ​ The Company has a program to repurchase its common stock in the open market or in privately negotiated transactions (the “share repurchase program”). The share repurchase 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. ​ As of December 31, 2024, the Company had $56.6 million available for repurchases of its common stock under the share repurchase program. During the three months ended March 31, 2025, the Company repurchased 258,765 shares for an aggregate cost of $22.0 million, including 160,808 shares for an aggregate cost of $14.3 million under Rule 10b5-1 plans, which allows for stock repurchases during closed trading windows. The Company had $34.6 million remaining under its share repurchase program as of March 31, 2025. Subsequent to March 31, 2025, the Company settled repurchases of 117,859 shares for an aggregate cost of $7.3 million.

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