Equity

6 Months Ended

Jun. 30, 2020

13. Equity

The following table reconciles the Company’s equity for the six months ended June 30, 2020:


							Accumulated
			Capital in				Other
	Common		Excess of		Reinvested		Comprehensive
	Stock		Par Value		Earnings		Loss

	(Dollars in thousands)
Balance, December 31, 2019	$	9,873	$	65,832	$	158,825	$	(24,536)
Net earnings		—		—		1,162		—
Foreign currency translation adjustments		—		—		—		(2,558)
Pension liability adjustment, net of tax		—		—		—		138
Cash dividends declared		—		—		(2,357)		—
Share-based compensation expense		—		351		—		—
Shares purchased and retired		(60)		—		(1,244)		—
Balance, March 31,2020	$	9,813	$	66,183	$	156,386	$	(26,956)
Net earnings (loss)		—		—		(8,883)		—
Foreign currency translation adjustments		—		—		—		1,590
Pension liability adjustment, net of tax		—		—		—		144
Cash dividends declared		—		—		(2,355)		—
Share-based compensation expense		—		350		—		—
Balance, June 30,2020	$	9,813	$	66,533	$	145,148	$	(25,222)

The following table reconciles the Company’s equity for the six months ended June 30, 2019:


							Accumulated
			Capital in				Other
	Common		Excess of		Reinvested		Comprehensive
	Stock		Par Value		Earnings		Loss

	(Dollars in thousands)
Balance, December 31, 2018	$	10,057	$	64,263	$	152,835	$	(21,572)
Net earnings		—		—		3,968		—
Foreign currency translation adjustments		—		—		—		130
Pension liability adjustment, net of tax		—		—		—		108
Cash dividends declared		—		—		(2,299)		—
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price		1		6		—		—
Issuance of restricted stock		1		(1)		—		—
Share-based compensation expense		—		366		—		—
Shares purchased and retired		(64)		—		(1,764)		—
Balance, March 31, 2019	$	9,995	$	64,634	$	152,740	$	(21,334)
Net earnings		—		—		1,514		—
Foreign currency translation adjustments		—		—		—		100
Pension liability adjustment, net of tax		—		—		—		123
Cash dividends declared		—		—		(2,401)		—
Common stock issued under equity incentive plans, net of shares withheld for employee taxes and strike price		7		142		—		—
Share-based compensation expense		—		365		—		—
Balance, June 30, 2019	$	10,002	$	65,141	$	151,853	$	(21,111)