XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Stockholders' Equity | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Stockholders' Equity | 5. Stockholders' Equity: Accumulated Other Comprehensive Income (Loss) The following tables present the tax effects of each component of other comprehensive income (loss) for the three months ended March 31, 2024 and 2023, respectively:
|  | Three months ended March 31,
|  | 2024 |  | 2023
|  | Pre-tax amount |  | Tax benefit/ (expense) |  | After-tax amount |  | Pre-tax amount |  | Tax benefit |  | After-tax amount
Defined benefit and other postretirement plans: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Net prior service cost |  | (7) |  |  | 2 |  |  | (5) |  |  | (31) |  |  | 8 |  |  | (23) |
Benefit plans, net |  | (8) |  |  | 2 |  |  | (6) |  |  | (32) |  |  | 8 |  |  | (24) |
Net gain (loss) from hedging activities |  | 5,152 |  |  | (1,288) |  |  | 3,864 |  |  | (10,303) |  |  | 2,383 |  |  | (7,920) |
Foreign currency translation |  | (1,684) |  |  | — |  |  | (1,684) |  |  | 2,185 |  |  | — |  |  | 2,185 |
Other comprehensive income (loss) |  | $ | 3,460 |  |  | $ | (1,286) |  |  | $ | 2,174 |  |  | $ | (8,150) |  |  | $ | 2,391 |  |  | $ | (5,759) |
The following tables present the changes in accumulated other comprehensive income, net of tax, by component for the three months ended March 31, 2024 and 2023, respectively:
|  | Defined benefit and other postretirement plans |  | Net gain (loss) from hedging activities |  | Foreign currency translation |  | Total
December 31, 2023 |  | $ | 612 |  |  | $ | 12,546 |  |  | $ | (14,116) |  |  | $ | (958) |
Other comprehensive income (loss) before reclassifications |  | — |  |  | 7,356 |  |  | (1,684) |  |  | 5,672 |
Amounts reclassified from accumulated other comprehensive loss(1) |  | (6) |  |  | (3,492) |  |  | — |  |  | (3,498) |
Net current period other comprehensive income (loss) |  | (6) |  |  | 3,864 |  |  | (1,684) |  |  | 2,174 |
March 31, 2024 |  | $ | 606 |  |  | $ | 16,410 |  |  | $ | (15,800) |  |  | $ | 1,216 |
December 31, 2022 |  | $ | (508) |  |  | $ | 24,672 |  |  | $ | (18,172) |  |  | $ | 5,992 |
Other comprehensive income (loss) before reclassifications |  | (48) |  |  | (7,394) |  |  | 2,185 |  |  | (5,257) |
Amounts reclassified from accumulated other comprehensive income (loss)(1) |  | 24 |  |  | (526) |  |  | — |  |  | (502) |
Net current period other comprehensive income (loss) |  | (24) |  |  | (7,920) |  |  | 2,185 |  |  | (5,759) |
March 31, 2023 |  | $ | (532) |  |  | $ | 16,752 |  |  | $ | (15,987) |  |  | $ | 233 |
(1)See the following table for details about these reclassifications. Amounts in parentheses indicate debits. The following table presents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2024 and 2023, respectively:
Details about Accumulated Other Comprehensive Income Components |  |  |  |  |  | Amounts reclassified from Accumulated Other Comprehensive Loss (Income)(1) |  | Affected line item where Income is presented
|  |  |  | Three months ended March 31, |  |
|  |  |  |  |  | 2024 |  | 2023 |  |
Amortization of defined benefit and other postretirement items: |  |  |  |  |  |  |  |  |  |
Net loss (gain) |  |  |  |  |  | $ | 1 |  |  | $ | (1) |  |  | Other (expense) income(2)
Net prior service cost (credit) |  |  |  |  |  | 7 |  |  | (31) |  |  | Other (expense) income(2)
|  |  |  |  |  | 8 |  |  | (32) |  |  | Total before tax
|  |  |  |  |  | (2) |  |  | 8 |  |  | Tax (expense) benefit
|  |  |  |  |  | $ | 6 |  |  | $ | (24) |  |  | Net of tax
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Interest rate caps |  |  |  |  |  | $ | 4,656 |  |  | $ | 698 |  |  | Interest income
|  |  |  |  |  | (1,164) |  |  | (172) |  |  | Tax expense
|  |  |  |  |  | $ | 3,492 |  |  | $ | 526 |  |  | Net of tax
Total reclassifications for the period |  |  |  |  |  | $ | 3,498 |  |  | $ | 502 |  |  | Net of tax
(1)Amounts in parentheses indicate debits to profit/loss. (2)These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 14 to these condensed consolidated financial statements for additional details). Treasury Stock Repurchases 2022 Stock Repurchase Program On April 27, 2022, the Board approved a stock repurchase program that authorized the Company to purchase up to $450,000 of the Company’s common stock over the four-year period from the date of approval. Under the plan, the Company is permitted to repurchase shares from time to time for cash in open market transactions or in privately negotiated transactions with an equity sponsor in accordance with applicable federal securities laws, with the Company determining the timing and the amount of any repurchases based on its evaluation of market conditions, share price and other factors. During the three months ended March 31, 2024, the Company did not repurchase any of its common stock pursuant to the stock repurchase program. As of March 31, 2024, $234,592 was available for share repurchases under the program. During the three m onths ended March 31, 2023, in connection with a secondary offering of the Company’s common stock by an equity sponsor in March 2023, the Company repurchased 3,000,000 shares of its common stock sold in the offering from underwriters at a price of $9.95 per share concurrently with the closing of the offering, for a total of $29,850, excluding brokerage commissions and accrued excise tax. Tax Withholdings on Equity Award Vesting In connection with the vesting of restricted stock awards (“RSA” or “RSAs”), restricted stock units (“RSU” or “RSUs”) and performance stock units (“PSU” or “PSUs”), shares of common stock may be delivered to the Company by employees to satisfy withholding tax obligations at the instruction of the employee award holders. These transactions, when they occur, are accounted for as stock repurchases by the Company, with the shares returned to treasury stock at a cost representing the payment by the Company of the tax obligations on behalf of the employees in lieu of shares for the vesting unit. There were 128,801 and 95,269 shares delivered to the Company to cover tax payments for the three months ended March 31, 2024 and 2023, respectively and the fair value of those shares withheld were $1,218 and $866 for the three months ended March 31, 2024 and 2023, respectively.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration