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Changes in Shareholders' Equity | 9 Months Ended
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Sep. 30, 2024
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, 2023 to September 30, 2024:
| Class A Common Stock |  | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity
| Shares | Amount |  |  | Shares | Amount
December 31, 2023 | 40,856 |  | $ | 41 |  |  |  | $ | 448,218 |  | $ | 1,010,942 |  | $ | (133,168) |  | 9,662 |  | $ | (364,665) |  | $ | 5,952 |  | $ | 967,320 |
Net income | — |  | — |  |  |  | — |  | 27,291 |  | — |  | — |  | — |  | 78 |  | 27,369 |
Compensation and benefits paid or payable in shares | 42 |  | — |  |  |  | 810 |  | — |  | — |  | — |  | — |  | — |  | 810 |
Dividends declared on Class A Common Stock, $0.26 per share | — |  | — |  |  |  | — |  | (8,122) |  | — |  | — |  | — |  | — |  | (8,122) |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | (12,116) |  | — |  | — |  | 46 |  | (12,070) |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | 382 |  | — |  | — |  | — |  | 382 |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | (2,124) |  | — |  | — |  | — |  | (2,124) |
March 31, 2024 | 40,898 |  | $ | 41 |  |  |  | $ | 449,028 |  | $ | 1,030,111 |  | $ | (147,026) |  | 9,662 |  | $ | (364,665) |  | $ | 6,076 |  | $ | 973,565 |
Net income | — |  | — |  |  |  | — |  | 24,624 |  | — |  | — |  | — |  | 96 |  | 24,720 |
Compensation and benefits paid or payable in shares | — |  | — |  |  |  | 2,530 |  | — |  | — |  | — |  | — |  | — |  | 2,530 |
Shares issued to Directors' | 10 |  | — |  |  | 903 |  | — |  | — |  | — |  | — |  | — |  | 903 |
Dividends declared on Class A Common Stock, $0.26 per share | — |  | — |  |  |  | — |  | (8,123) |  | — |  | — |  | — |  | — |  | (8,123) |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | (17,287) |  | — |  | — |  | (366) |  | (17,653) |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | 246 |  | — |  | — |  | — |  | 246 |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | (2,840) |  | — |  | — |  | — |  | (2,840) |
June 30, 2024 | 40,908 |  | $ | 41 |  |  |  | $ | 452,461 |  | $ | 1,046,612 |  | $ | (166,907) |  | 9,662 |  | $ | (364,665) |  | $ | 5,806 |  | $ | 973,348 |
Net income | — |  | — |  |  |  | — |  | 18,029 |  | — |  | — |  | — |  | 192 |  | 18,221 |
Compensation and benefits paid or payable in shares | 9 |  | — |  |  |  | 195 |  | — |  | — |  | — |  | — |  | — |  | 195 |
Dividends declared on Class A Common Stock, $0.26 per share | — |  | — |  |  |  | — |  | (8,127) |  | — |  | — |  | — |  | — |  | (8,127) |
Dividends paid to noncontrolling interests | — |  | — |  |  |  | — |  | — |  | — |  | — |  | — |  | (166) |  | (166) |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | 16,931 |  | — |  | — |  | (153) |  | 16,778 |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | (623) |  | — |  | — |  | — |  | (623) |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | (2,950) |  | — |  | — |  | — |  | (2,950) |
September 30, 2024 | 40,917 |  | $ | 41 |  |  |  | $ | 452,656 |  | $ | 1,056,514 |  | $ | (153,549) |  | 9,662 |  | $ | (364,665) |  | $ | 5,679 |  | $ | 996,676 |
The following table summarizes changes in Shareholders’ Equity for the period December 31, 2022 to September 30, 2023:
| Class A Common Stock |  | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity
(in thousands) | Shares | Amount |  |  | Shares | Amount
December 31, 2022 | 40,785 |  | $ | 41 |  |  |  | $ | 441,540 |  | $ | 931,318 |  | $ | (144,927) |  | 9,675 |  | $ | (364,923) |  | $ | 4,494 |  | $ | 867,543 |
Net income | — |  | — |  |  |  | — |  | 26,889 |  | — |  | — |  | — |  | 197 |  | 27,086 |
Compensation and benefits paid or payable in shares | 58 |  | — |  |  |  | 378 |  | — |  | — |  | — |  | — |  | — |  | 378 |
Dividends declared on Class A Common Stock, $0.25 per share | — |  | — |  |  |  | — |  | (7,792) |  | — |  | — |  | — |  | — |  | (7,792) |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | 13,881 |  | — |  | — |  | 238 |  | 14,119 |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | (916) |  | — |  | — |  | — |  | (916) |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | (2,902) |  | — |  | — |  | — |  | (2,902) |
March 31, 2023 | 40,842 |  | $ | 41 |  |  |  | $ | 441,917 |  | $ | 950,415 |  | $ | (134,864) |  | 9,675 |  | $ | (364,923) |  | $ | 4,929 |  | $ | 897,515 |
Net income | — |  | — |  |  |  | — |  | 26,672 |  | — |  | — |  | — |  | 154 |  | 26,826 |
Compensation and benefits paid or payable in shares | — |  | — |  |  |  | 811 |  | — |  | — |  | — |  | — |  | — |  | 811 |
Shares issued to Directors' | — |  | — |  |  |  | 828 |  | — |  | — |  | (12) |  | 258 |  | — |  | 1,086 |
Dividends declared on Class A Common Stock, $0.25 per share | — |  | — |  |  |  | — |  | (7,795) |  | — |  | — |  | — |  | — |  | (7,795) |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | (2,568) |  | — |  | — |  | 179 |  | (2,389) |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | (724) |  | — |  | — |  | — |  | (724) |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | 389 |  | — |  | — |  | — |  | 389 |
June 30, 2023 | 40,842 |  | $ | 41 |  |  |  | $ | 443,556 |  | $ | 969,292 |  | $ | (137,767) |  | 9,663 |  | $ | (364,665) |  | $ | 5,262 |  | $ | 915,719 |
Net income | — |  | — |  |  |  | — |  | 27,109 |  | — |  | — |  | — |  | 45 |  | 27,154 |
Compensation and benefits paid or payable in shares | 15 |  | — |  |  |  | 2,914 |  | — |  | — |  | (1) |  | — |  | — |  | 2,914 |
Dividends declared on Class A Common Stock, $0.25 per share | — |  | — |  |  |  | — |  | (7,799) |  | — |  | — |  | — |  | — |  | (7,799) |
Initial equity related to Noncontrolling interest in Arcari | — |  | — |  |  |  | — |  | — |  | — |  | — |  | — |  | 1,632 |  | 1,632 |
Cumulative translation adjustments | — |  | — |  |  |  | — |  | — |  | (15,639) |  | — |  | — |  | (145) |  | (15,784) |
Pension and postretirement liability adjustments | — |  | — |  |  |  | — |  | — |  | 34 |  | — |  | — |  | — |  | 34 |
Derivative valuation adjustment | — |  | — |  |  |  | — |  | — |  | (2,237) |  | — |  | — |  | — |  | (2,237) |
September 30, 2023 | 40,857 |  | $ | 41 |  |  |  | $ | 446,470 |  | $ | 988,602 |  | $ | (155,609) |  | 9,662 |  | $ | (364,665) |  | $ | 6,794 |  | $ | 921,633 |

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