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Changes in Shareholders' Equity | 9 Months Ended
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Sep. 30, 2022
Stockholders' Equity Note [Abstract] |
Changes in Shareholders’ Equity | Changes in Shareholders’ EquityThe following table summarizes changes in Shareholders’ Equity for the period December 31, 2021 to September 30, 2022:
| 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, 2021 | 40,760 |  | $ | 41 |  | — |  | $ | — |  | $ | 436,996 |  | $ | 863,057 |  | $ | (145,984) |  | 8,665 |  | $ | (280,143) |  | $ | 3,638 |  | $ | 877,605 |
Net income | — |  | — |  | — |  | — |  | — |  | 27,737 |  | — |  | — |  | — |  | 338 |  | 28,075 |
Compensation and benefits paid or payable in shares | 21 |  | — |  | — |  | — |  | 745 |  | — |  | — |  | — |  | — |  | — |  | 745 |
Options exercised | — |  | — |  | — |  | — |  | 7 |  | — |  | — |  | — |  | — |  | — |  | 7 |
Shares issued to Directors' | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Purchase of Treasury shares (a) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 515 |  | (43,937) |  | — |  | (43,937) |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | (6,661) |  | — |  | — |  | — |  | — |  | (6,661) |
Class B Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (1,730) |  | — |  | — |  | 56 |  | (1,674) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 74 |  | — |  | — |  | — |  | 74 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 10,018 |  | — |  | — |  | — |  | 10,018 |
March 31, 2022 | 40,781 |  | $ | 41 |  | — |  | $ | — |  | $ | 437,748 |  | $ | 884,133 |  | $ | (137,622) |  | 9,180 |  | $ | (324,080) |  | $ | 4,032 |  | $ | 864,252 |
Net income | — |  | — |  | — |  | — |  | — |  | 39,201 |  | — |  | — |  | — |  | 168 |  | 39,369 |
Compensation and benefits paid or payable in shares | 4 |  | — |  | — |  | — | 902 |  | — |  | — |  | — |  | — |  | — |  | 902 |
Options exercised | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Shares issued to Directors' | — |  | — | — |  | — |  | 800 |  | — |  | — |  | (13) |  | 285 |  | — |  | 1,085 |
Purchase of Treasury shares (a) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 508 |  | (41,128) |  | — |  | (41,128) |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | (6,529) |  | — |  | — |  | — |  | — |  | (6,529) |
Class B Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (39,661) |  | — |  | — |  | (91) |  | (39,752) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 234 |  | — |  | — |  | — |  | 234 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 3,349 |  | — |  | — |  | — |  | 3,349 |
June 30, 2022 | 40,785 |  | $ | 41 |  | — |  | $ | — |  | $ | 439,450 |  | $ | 916,805 |  | $ | (173,700) |  | 9,675 |  | $ | (364,923) |  | $ | 4,109 |  | $ | 821,782 |
Net income | — |  | — |  | — |  | — |  | — |  | 10,694 |  | — |  | — |  | — |  | 129 |  | 10,823 |
Compensation and benefits paid or payable in shares | — |  | — |  | — |  | — |  | 835 |  | — |  | — |  | — |  | — |  | — |  | 835 |
Options exercised | — |  | — |  | — |  | — |  | 10 |  | — |  | — |  | — |  | — |  | — |  | 10 |
Shares issued to Directors' | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Purchase of Treasury shares (a) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | (6,533) |  | — |  | — |  | — |  | — |  | (6,533) |
Class B Common Stock, $0.21 per share | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (38,450) |  | — |  | — |  | (56) |  | (38,506) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (629) |  | — |  | — |  | — |  | (629) |
Settlement of certain pension liabilities | — |  | — |  | — |  | — |  | — |  | — |  | 26,198 |  | — |  | — |  | — |  | 26,198 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 6,208 |  | — |  | — |  | — |  | 6,208 |
September 30, 2022 | 40,785 |  | $ | 41 |  | — |  | $ | — |  | $ | 440,295 |  | $ | 920,966 |  | $ | (180,373) |  | 9,675 |  | $ | (364,923) |  | $ | 4,182 |  | $ | 820,188 |
The following table summarizes changes in Shareholders’ Equity for the period December 31, 2020 to September 30, 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 |
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 |
Net income | — |  | — |  | — |  | — |  | — |  | 30,862 |  | — |  | — |  | — |  | 80 |  | 30,942 |
Compensation and benefits paid or payable in shares | — |  | — |  | — |  | — |  | 845 |  | — |  | — |  | — |  | — |  | — |  | 845 |
Options exercised | 1 |  | — |  | — |  | — |  | 4 |  | — |  | — |  | — |  | — |  | — |  | 4 |
Shares issued to Directors' | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Dividends declared |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | (6,478) |  | — |  | — |  | — |  | — |  | (6,478) |
Class B Common Stock, $0.20 per share | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Conversion of Class B shares to Class A shares (b) | 1,617 |  | 2 |  | (1,617) |  | (2) |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Cumulative translation adjustments | — |  | — |  | — |  | — |  | — |  | — |  | (14,943) |  | — |  | — |  | (192) |  | (15,135) |
Pension and postretirement liability adjustments | — |  | — |  | — |  | — |  | — |  | — |  | 223 |  | — |  | — |  | — |  | 223 |
Derivative valuation adjustment | — |  | — |  | — |  | — |  | — |  | — |  | 1,873 |  | — |  | — |  | — |  | 1,873 |
September 30, 2021 | 40,760 |  | $ | 41 |  | 1 |  | $ | 0 |  | $ | 436,079 |  | $ | 841,162 |  | $ | (144,911) |  | 8,380 |  | $ | (255,768) |  | $ | 3,730 |  | $ | 880,333 |
(a)In October 2021, the Company's Board of Directors authorized the Company to repurchase shares of up to $200 million through open market purchases, privately negotiated transactions or otherwise, and to determine the prices, times and amounts. In 2021, the Company repurchased 285,286 shares totaling $24.4 million. During the nine month period ending September 30, 2022, the Company repurchased 1,022,717 shares totaling $85.1 million. (b)In the third quarter of 2021, Standish Family Holdings, LLC and J.S. Standish Company (the "Selling Stockholders") agreed to sell to J.P. Morgan Securities LLC 1,566,644 shares of the Company’s Class A Common Stock, par value $0.001 per share, to be issued upon conversion of an equal number of shares of the Company’s Class B common stock, par value $0.001 per share, at a price per share of $75.9656 (the "Transaction"). Immediately following the Transaction, the Selling Stockholders and related persons (including Christine L. Standish and John C. Standish) hold in the aggregate shares of the Company’s common stock entitling them to cast less than one percent of the combined votes entitled to be cast by all stockholders of the Company. Costs associated with the Transaction were borne directly by the Selling Stockholders.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: 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 https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: 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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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