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OTHER
 9 Months Ended
Sep. 30, 2016
OTHER

NOTE L — OTHER

Cash dividends

Dividends declared in the nine months ended September 30, 2016 are as follows:

 

Dividend per share

   

Date declared

   

Date of record

   

Payment date
$  0.0425    March 3, 2016    May 2, 2016    May 16, 2016
$  0.0425    June 9, 2016    August 1, 2016    August 15, 2016
$  0.0425    August 4, 2016    November 1, 2016    November 15, 2016

On February 15, 2016, May 16, 2016 and August 15, 2016 the Company paid cash dividends of $594,000, $602,000 and $608,000 respectively. In the three months ended September 30, 2016, the Company reduced retained earnings for the accrual of $619,000 relating to the dividend payable on November 15, 2016.

On November 3, 2016, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on February 15, 2017 to shareholders of record on February 1, 2017.

Supplemental cash flow information

 

     Nine Months Ended
September 30,		  
     2016      2015  
     (in thousands)  

Supplemental disclosure of cash flow information:

      

Cash paid for interest

    $ 2,998       $ 3,636   

Cash paid for taxes

      6,361         6,883   

Non-cash investing activities:

      

Translation adjustment

    $ 7,140       $ 4,681   

Components of accumulated other comprehensive loss, net

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2016     2015     2016     2015  
     (in thousands)  

Accumulated translation adjustment:

         

Balance at beginning of period

    $ (17,716 )    $ (9,187 )    $ (12,961 )    $ (7,680 ) 

Translation loss during period

      (2,007 )      (3,174 )      (7,140 )      (4,681 ) 

Amounts reclassified from accumulated other comprehensive loss: (1)

         

Currency translation adjustment

      —          —          378     
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

    $ (19,723 )    $ (12,361 )    $ (19,723 )    $ (12,361 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated deferred losses on cash flow hedges:

         

Balance at beginning of period

    $ (67 )    $ (55 )    $ (20 )    $ (18 ) 

Derivative fair value adjustment, net of taxes of $22 and $22 for the three month periods ended September 30, 2016 and 2015, respectively, and $10 and $47 for the nine month periods ended September 30, 2016 and 2015, respectively

      33        (34 )      (14 )      (71 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

    $ (34 )    $ (89 )    $ (34 )    $ (89 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Accumulated effect of retirement benefit obligations:

         

Balance at beginning of period

    $ (1,177 )    $ (2,184 )    $ (1,204 )    $ (2,224 ) 

Amounts reclassified from accumulated other comprehensive loss: (2)

         

Amortization of actuarial losses, net of taxes of $9 and $13 for the three month periods ended September 30, 2016 and 2015, respectively, and $27 and $40 for the nine month periods ended September 30, 2016 and 2015, respectively

      14        20        41        60   
  

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

    $ (1,163 )    $ (2,164 )    $ (1,163 )    $ (2,164 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total accumulated other comprehensive loss at end of period

    $ (20,920 )    $ (14,614 )    $ (20,920 )    $ (14,614 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) Amount is recorded in equity in earnings (losses) on the condensed consolidated statements of operations.
(2) Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.