STOCKHOLDERS’ EQUITY (Tables)

9 Months Ended

Sep. 30, 2024

There was no share repurchase activity during the three and nine months ended September 30, 2024 and the three months ended September 30, 2023. Total share repurchase activity during the nine months ended September 30, 2023 was as follows:


(in thousands, except share and per share data)	Nine Months Ended September 30, 2023

Number of common shares repurchased		1,774,845
Total cost		$	30,458
Average cost per share, including commissions		$	17.16

Schedule of Outstanding Warrants, Options, and Contingent Shares

The Company issued warrants, options and other contingent consideration in acquisitions and strategic partnerships that are expected to result in the issuance of common shares in future periods resulting from the exercise of warrants and options or the achievement of certain performance targets. These incremental shares are summarized below:


Sinclair Penny Warrants (Note 2)			7,911,724
Sinclair Performance Warrants (Note 2)			3,279,337
Sinclair Options(1) (Note 2)			1,639,669
MKF penny warrants (Note 11)			44,128

Telescope contingent shares (Note 11)			8,626
Outstanding awards under Equity Incentive Plans			1,594,249
			14,477,733

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(1) Consists of four equal tranches to purchase shares with exercise prices ranging from $30.00 to $45.00 per share, exercisable over a seven-year period beginning on the fourth anniversary of the November 18, 2020 closing of the Framework Agreement.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive loss by component for the nine months ended September 30, 2024 and 2023, respectively:


(in thousands)	Foreign Currency Translation Adjustment		Benefit Plans		Cash Flow Hedges(1)		Net Investment Hedges		Total
Accumulated other comprehensive (loss) income at December 31, 2023	$	(177,203)	$	886	$	(11,246)	$	(21,995)	$	(209,558)
Other comprehensive income (loss) before reclassifications	103,342		—		(26,507)		(16,153)		60,682
Reclassifications from accumulated other comprehensive income (loss) to earnings	—		—		(9,678)		(3,170)		(12,848)
Tax effect	—		—		8,805		12,674		21,479
Accumulated other comprehensive (loss) income at September 30, 2024	$	(73,861)	$	886	$	(38,626)	$	(28,644)	$	(140,245)

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(1) As of September 30, 2024, approximately $6.8 million of existing gains and losses are estimated to be reclassified into earnings within the next 12 months.


(in thousands)	Foreign Currency Translation Adjustment		Benefit Plans		Cash Flow Hedges		Net Investment Hedges		Total
Accumulated other comprehensive (loss) income at December 31, 2022	$	(295,984)	$	344	$	—	$	—	$	(295,640)
Other comprehensive income (loss) before reclassifications	1,532		—		3,970		675		6,177
Reclassifications from accumulated other comprehensive income (loss) to earnings	—		—		(443)		(388)		(831)
Tax effect	—		—		(934)		(76)		(1,010)
Accumulated other comprehensive (loss) income at September 30, 2023	$	(294,452)	$	344	$	2,593	$	211	$	(291,304)