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Equity and Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 30, 2020
Equity and Accumulated Other Comprehensive Loss [Abstract] |
Equity and Accumulated Other Comprehensive Loss | (9) Equity and Accumulated Other Comprehensive Loss Common Share Repurchase ​ On October 26, 2018, the Company’s Board of Directors authorized the Company to repurchase up to $50,000 of Common Shares. Thereafter, on May 7, 2019, the Company entered into a Master Confirmation (the “Master Confirmation”) and a Supplemental Confirmation, together with the Master Confirmation, the Accelerated Share Repurchase Agreement (“ASR Agreement”), with Citibank N.A. (the “Bank”) to purchase Company Common Shares for a payment of $50,000 (the “Prepayment Amount”). Under the terms of the ASR Agreement, on May 7, 2019, the Company paid the Prepayment Amount to the Bank and received on May 8, 2019 an initial delivery of 1,349,528 Company Common Shares, which approximated 80% of the total number of Company Common Shares expected to be repurchased under the ASR Agreement based on the closing price of the Company’s Common Shares on May 7, 2019. These Common Shares became treasury shares and were recorded as a $40,000 reduction to shareholder’s equity. The remaining $10,000 of the Prepayment Amount was recorded as a reduction to shareholders’ equity as an unsettled forward contract indexed to our Common Shares. ​ On February 25, 2020, the Bank notified the Company that it terminated early its commitment pursuant the ASR Agreement and would deliver 364,604 Common Shares on February 27, 2020 based on the volume weighted average price of our Common Shares during the term set forth in the ASR Agreement. The Bank’s notice of early termination and the subsequent delivery of Common Shares represents the final settlement of the Company’s share repurchase program pursuant to the accelerated share repurchase agreement. These Common Shares became treasury shares and were recorded as a $10,000 reduction to shareholders’ equity as Common Shares held in treasury with the offset of $10,000 to additional paid-in capital. ​ On February 24, 2020, the Company’s Board of Directors authorized a new repurchase program of $50,000 for the repurchase of the Company’s outstanding Common Shares over the next 18 months. The repurchases may be made from time to time in either open market transactions or in privately negotiated transactions. Repurchases may also be made under Rule 10b-18 plans, which permit Common Shares to be repurchased through pre-determined criteria. ​ On March 3, 2020, under the new repurchase program the Company entered into a 10b-18 Agreement Letter (the “10b-18 Agreement”), with the Bank to purchase Company Common Shares, under purchasing conditions of Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended (“Rule 10b-18”), for up to $5,000. Under the terms of the 10b-18 Agreement, commencing March 3, 2020 and ending March 6, 2020, the Company received delivery of a total of 242,634 Company Common Shares for the amount of $4,995. These Common Shares became treasury shares and were recorded as a $4,995 reduction to shareholders’ equity as Common Shares held in treasury. In April 2020, the Company announced that it was temporarily suspending the previously announced share repurchase program in response to uncertainty surrounding the duration and magnitude of the impact of COVID-19. ​ Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the three months ended June 30, 2020 and 2019 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Foreign | ​ | ​ | Unrealized | ​ | ​ | ​
​ | ​ | ​ | currency | ​ | ​ | gain (loss) | ​ | ​ | ​
​ |  | ​ | translation |  | ​ | on derivatives | ​ | Total
Balance at April 1, 2020 | ​ | $ | (108,591) | ​ | $ | (3,655) | ​ | $ | (112,246)
Other comprehensive income before reclassifications | ​ | ​ | 1,821 | ​ | ​ | 372 | ​ | ​ | 2,193
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | - | ​ | ​ | 838 | ​ | ​ | 838
Net other comprehensive income, net of tax | ​ | ​ | 1,821 | ​ | ​ | 1,210 | ​ | ​ | 3,031
Balance at June 30, 2020 | ​ | $ | (106,770) | ​ | $ | (2,445) | ​ | $ | (109,215)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at April 1, 2019 | ​ | $ | (89,848) | ​ | $ | 334 | ​ | $ | (89,514)
Other comprehensive income before reclassifications | ​ | ​ | 2,311 | ​ | ​ | 123 | ​ | ​ | 2,434
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | - | ​ | ​ | (235) | ​ | ​ | (235)
Net other comprehensive (loss) income, net of tax | ​ | ​ | 2,311 | ​ | ​ | (112) | ​ | ​ | 2,199
Balance at June 30, 2019 | ​ | $ | (87,537) | ​ | $ | 222 | ​ | $ | (87,315)
​ ​ Changes in accumulated other comprehensive loss for the six months ended June 30, 2020 and 2019 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Foreign | ​ | Unrealized | ​ | ​ | ​
​ | ​ | currency | ​ | gain (loss) | ​ | ​ | ​
​ |  | translation |  | on derivatives |  | Total
Balance at January 1, 2020 | ​ | $ | (91,472) | ​ | $ | - | ​ | $ | (91,472)
Other comprehensive (loss) income before reclassifications | ​ | ​ | (15,298) | ​ | ​ | (3,410) | ​ | ​ | (18,708)
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | - | ​ | ​ | 965 | ​ | ​ | 965
Net other comprehensive loss, net of tax | ​ | ​ | (15,298) | ​ | ​ | (2,445) | ​ | ​ | (17,743)
Balance at June 30, 2020 | ​ | $ | (106,770) | ​ | $ | (2,445) | ​ | $ | (109,215)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at January 1, 2019 | ​ | $ | (86,044) | ​ | $ | 292 | ​ | $ | (85,752)
Other comprehensive (loss) income before reclassifications | ​ | ​ | (1,493) | ​ | ​ | 336 | ​ | ​ | (1,157)
Amounts reclassified from accumulated other comprehensive loss | ​ | ​ | - | ​ | ​ | (406) | ​ | ​ | (406)
Net other comprehensive loss, net of tax | ​ | ​ | (1,493) | ​ | ​ | (70) | ​ | ​ | (1,563)
Balance at June 30, 2019 | ​ | $ | (87,537) | ​ | $ | 222 | ​ | $ | (87,315)
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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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