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Changes in Shareholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2021
Stockholders' Equity Note [Abstract] |
Schedule of Stockholders Equity | The following table summarizes changes in Shareholders’ Equity for the period December 31, 2020 to June 30, 2021:
| Class A Common Stock | Class B Common Stock | Additional paid-in capital | Retained earnings | Accumulated 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 |
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 |
Net income | — |  | — |  | — |  | — |  | — |  | 31,397 |  | — |  | — |  | — |  | 43 |  | 31,440 |
Compensation and benefits paid or payable in shares | — |  | — |  | — |  | — | 692 |  | — |  | — |  | — |  | — |  | — |  | 692 |
Options exercised | 1 |  | — |  | — |  | — |  | 21 |  | — |  | — |  | — |  | — |  | — |  | 21 |
Shares issued to Directors' | — |  | — | — |  | — |  | 706 |  | — |  | — |  | (11) |  | 241 |  | — |  | 947 |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | (6,150) |  | — |  | — |  | — |  | — |  | (6,150) |
Class B Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | (323) |  | — |  | — |  | — |  | — |  | (323) |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 13,774 |  | — |  | — |  | 183 |  | 13,957 |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (130) |  | — |  | — |  | — |  | (130) |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 1,394 |  | — |  | — |  | — |  | 1,394 |
June 30, 2021 | 39,142 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 435,230 |  | $ | 816,778 |  | $ | (132,064) |  | 8,380 |  | $ | (255,768) |  | $ | 3,842 |  | $ | 868,059 |
The following table summarizes changes in Shareholders’ Equity for the period December 31, 2019 to June 30, 2020:
| Class A Common Stock | Class B Common Stock | Additional paid-in capital | Retained earnings | Accumulated 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 |
Net income | — |  | — |  | — |  | — |  | — |  | 32,354 |  | — |  | — |  | — |  | 95 |  | 32,449 |
Compensation and benefits paid or payable in shares | — |  | — |  | — |  | — | 466 |  | — |  | — |  | — |  | — |  | — |  | 466 |
Options exercised | 1 |  | — |  | — |  | — |  | 20 |  | — |  | — |  | — |  | — |  | — |  | 20 |
Shares issued to Directors' | — |  | — | — |  | — |  | 416 |  | — |  | — |  | (15) |  | 317 |  | — |  | 733 |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.19 per share | — |  | — |  | — |  | — |  | — |  | (5,835) |  | — |  | — |  | — |  | — |  | (5,835) |
Class B Common Stock, $0.19 per share | — |  | — |  | — |  | — |  | — |  | (307) |  | — |  | — |  | — |  | — |  | (307) |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 8,964 |  | — |  | — |  | 152 |  | 9,116 |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 142 |  | — |  | — |  | — |  | 142 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | (187) |  | — |  | — |  | — |  | (187) |
June 30, 2020 | 39,113 |  | $ | 39 |  | 1,618 |  | $ | 2 |  | $ | 432,738 |  | $ | 726,233 |  | $ | (199,627) |  | 8,394 |  | $ | (256,074) |  | $ | 2,847 |  | $ | 706,158 |
(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 Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
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