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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2020
Stockholders' Equity [Abstract] |
Stockholders' Equity | 15. STOCKHOLDERS’ EQUITY Treasury Stock The company holds 11.8 million shares of its common stock at a cost of $131.3 million. Treasury stock is recorded at cost and reduces stockholders’ equity in the consolidated balance sheets. When shares are reissued, the company will use the weighted average cost method for determining the cost basis. The difference between the cost and the issuance price is added or deducted from additional paid-in capital. Share Repurchase Program The company’s board of directors authorized a share repurchase program of up to $200.0 million. Under the program, the company may repurchase shares in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means. The timing and amount of repurchase transactions are determined by its management based on market conditions, share price, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice. The company repurchased 880,979 shares of common stock for approximately $11.5 million during 2020. Since inception, the company has repurchased 7,396,936 shares of common stock for approximately $92.8 million under the program. ‎ Dividends On June 18, 2019, the company announced that its board of directors decided to suspend its future quarterly cash dividend following the June 14, 2019 dividend payment, in order to retain and redirect cash flow to the company’s Project 24 operating expense equalization plan, the deployment of high-protein technology and its stock repurchase program. For each calendar quarter commencing with the quarter ended September 30, 2015, the partnership agreement provides for a quarterly distribution to be paid within 45 days after the end of the quarter, provided the partnership has sufficient available cash. Available cash generally means, all cash and cash equivalents on hand at the end of that quarter less cash reserves established by the general partner of the partnership plus all or any portion of the cash on hand resulting from working capital borrowings made subsequent to the end of that quarter. On January 21, 2021, the board of directors of the general partner of the partnership declared a cash distribution of $0.12 per unit on outstanding common units. The distribution is payable on February 12, 2021, to unitholders of record at the close of business on February 5, 2021. Accumulated Other Comprehensive Income Changes in accumulated other comprehensive income are associated primarily with gains and losses on derivative financial instruments. Amounts reclassified from accumulated other comprehensive income are as follows (in thousands):
| Year Ended December 31, |  | Statements of Operations
| 2020 |  | 2019 |  | 2018 |  | Classification
Gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 5,538 |  | $ | - |  | $ | 3,648 |  | (1)
Commodity derivatives |  | (2,115) |  |  | - |  |  | 1,258 |  | (2)
Total gains on cash flow hedges from continuing operations |  | 3,423 |  |  | - |  |  | 4,906 |  | (3)
Gains (losses) on cash flow hedges from discontinued operations, net of income taxes |  | - |  |  | 38,795 |  |  | (10,092) |  | (4)
Income tax expense |  | 857 |  |  | - |  |  | 1,483 |  | (5)
Amounts reclassified from accumulated other comprehensive income (loss) | $ | 2,566 |  | $ | 38,795 |  | $ | (6,669) |  |
(1)Revenues (2)Costs of goods sold (3)Income (loss) from continuing operations before income taxes and income (loss) from equity method investees (4)Net income from discontinued operations, net of income taxes (5)Income tax benefit At December 31, 2020 and 2019, the company’s consolidated balance sheets reflected unrealized losses of $2.2 million and $11.1 million, net of tax, in accumulated other comprehensive loss, respectively.

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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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