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OTHER
 6 Months Ended
Jun. 30, 2017
OTHER

NOTE K — OTHER

Cash dividends

Dividends declared in the six months ended June 30, 2017 are as follows:

 

Dividend per share

    Date declared    Date of record    Payment date

$            0.0425

    March 8, 2017    May 1, 2017    May 15, 2017

$            0.0425

    June 22, 2017    August 1, 2017    August 15, 2017

 

On February 15, 2017 and May 15, 2017, the Company paid cash dividends of $613,000 and $613,000, respectively, to shareholders of record on February 1, 2017 and May 1, 2017, respectively. In the three months ended June 30, 2017, the Company reduced retained earnings for the accrual of $639,000 relating to the dividend payable on August 15, 2017.

On August 4, 2017, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on November 15, 2017 to shareholders of record on November 1, 2017.

Supplemental cash flow information

 

     Six Months Ended
June 30,		  
     2017      2016  
     (in thousands)  

Supplemental disclosure of cash flow information:

      

Cash paid for interest

    $ 1,704      $ 1,971  

Cash paid for taxes

      8,753        5,923  

Non-cash investing activities:

      

Translation adjustment

    $ 5,288      $ (5,133 ) 

 

Components of accumulated other comprehensive loss, net

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2017      2016      2017      2016  
     (in thousands)  

Accumulated translation adjustment:

            

Balance at beginning of period

    $ (33,668 )     $ (14,640 )     $ (35,644 )     $ (12,961 ) 

Translation gain (loss) during period

      3,312        (3,454 )       5,288        (5,133 ) 

Amounts reclassified from accumulated other comprehensive loss: (1)

            

Currency translation adjustment

      —          378        —          378  
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at end of period

    $ (30,356 )     $ (17,716 )     $ (30,356 )     $ (17,716 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Accumulated deferred gains (losses) on cash flow hedges:

            

Balance at beginning of period

    $ 10      $ (63 )     $ (3 )     $ (20 ) 

Derivative fair value adjustment, net of taxes of $1 and $3 for the three month periods ended June 30, 2017 and 2016, respectively and $9 and $32 for the six month periods ended June 30, 2017 and 2016, respectively.

      1        (4 )       14        (47 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at end of period

    $ 11      $ (67 )     $ 11      $ (67 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Accumulated effect of retirement benefit obligations:

            

Balance at beginning of period

    $ (1,337 )     $ (1,190 )     $ (1,352 )     $ (1,204 ) 
Amounts reclassified from accumulated other comprehensive loss: (2)            

Amortization of actuarial losses, net of taxes of $10 and $9 for the three month periods ended June 30, 2017 and 2016, respectively and $20 and $18 for the six month periods ended June 30, 2017 and 2016, respectively.

      16        13        31        27  
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at end of period

    $ (1,321 )     $ (1,177 )     $ (1,321 )     $ (1,177 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Total accumulated other comprehensive loss at end of period

    $ (31,666 )     $ (18,960 )     $ (31,666 )     $ (18,960 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(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.