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Changes in Shareholders' Equity | 3 Months Ended
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Mar. 31, 2021
Stockholders' Equity Note [Abstract] |
Changes in Shareholders’ Equity | Changes in Shareholders’ Equity The following table summarizes changes in Shareholders’ Equity for the period December 31, 2020 to March 31, 2021:
| Class A Common Stock | Class B Common Stock | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Equity
(in thousands) | Shares | Amount | Shares | Amount | Shares | Amount
December 31, 2020 | 39,115 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 433,696 |  | $ | 770,746 |  | $ | (132,408) |  | 8,391 |  | $ | (256,009) |  | $ | 3,799 |  | $ | 819,865 |
Net income | — |  | — |  | — |  | — |  | — |  | 27,582 |  | — |  | — |  | — |  | 27 |  | 27,609 |
Compensation and benefits paid or payable in shares | 20 |  | — |  | — |  | — | (13) |  | — |  | — |  | — |  | — |  | — |  | (13) |
Options exercised | 6 |  | — |  | — |  | — |  | 128 |  | — |  | — |  | — |  | — |  | — |  | 128 |
Shares issued to Directors' | — |  | — | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | (6,150) |  | — |  | — |  | — |  | — |  | (6,150) |
Class B Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | (324) |  | — |  | — |  | — |  | — |  | (324) |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (15,955) |  | — |  | — |  | (210) |  | (16,165) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 509 |  | — |  | — |  | — |  | 509 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 752 |  | — |  | — |  | — |  | 752 |
March 31, 2021 | 39,141 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 433,811 |  | $ | 791,854 |  | $ | (147,102) |  | 8,391 |  | $ | (256,009) |  | $ | 3,616 |  | $ | 826,211 |
The following table summarizes changes in Shareholders’ Equity for the period December 31, 2019 to March 31, 2020:
| Class A Common Stock | Class B Common Stock | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Equity
(in thousands) | Shares | Amount | Shares | Amount | Shares | Amount
December 31, 2019 | 39,099 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 432,518 |  | $ | 698,496 |  | $ | (175,981) |  | 8,409 |  | $ | (256,391) |  | $ | 4,006 |  | $ | 702,689 |
Adoption of accounting standards (a) | — |  | — |  | — |  | — |  | — |  | (1,443) |  | — |  | — |  | — |  | — |  | (1,443) |
Net income | — |  | — |  | — |  | — |  | — |  | 9,109 |  | — |  | — |  | — |  | (1,515) |  | 7,594 |
Compensation and benefits paid or payable in shares | 13 |  | — |  | — |  | — | (682) |  | — |  | — |  | — |  | — |  | — |  | (682) |
Options exercised | — |  |  |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Shares issued to Directors' | — |  | — | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.19 per share | — |  | — |  | — |  | — |  | — |  | (5,834) |  | — |  | — |  | — |  | — |  | (5,834) |
Class B Common Stock, $0.19 per share | — |  | — |  | — |  | — |  | — |  | (307) |  | — |  | — |  | — |  | — |  | (307) |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (25,747) |  | — |  | — |  | 109 |  | (25,638) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 890 |  | — |  | — |  | — |  | 890 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | (7,708) |  | — |  | — |  | — |  | (7,708) |
March 31, 2020 | 39,112 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 431,836 |  | $ | 700,021 |  | $ | (208,546) |  | 8,409 |  | $ | (256,391) |  | $ | 2,600 |  | $ | 669,561 |
(a)The Company adopted the provisions of ASC 326, Current Expected Credit Losses (CECL) effective January 1, 2020, which resulted in a decrease to Retained earnings of $1.4 million.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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