OTHER

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER

Cash dividends

Dividends declared in the three months ended March 31, 2021 were as follows:

Dividend per share

Date declared

Date of record

Payment date

$0.0425

3/9/2021

5/3/2021

5/17/2021

During the three months ended March 31, 2021, the Company paid dividends of $1.0 million. This included the payment made on February 12, 2021 of $0.9 million to shareholders of record on January 29, 2021 and payments of $0.1 million for dividends payable upon the vesting of restricted shares and performance shares.

In the three months ended March 31, 2021, the Company reduced retained earnings for the accrual of $0.9 million relating to the dividend payable on May 17, 2021.

Supplemental cash flow information


	Three Months Ended March 31,
	2021		2020
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	2,472	$	4,154
Cash paid for taxes, net of refunds	260		175
Non-cash investing activities:
Translation gain (loss) adjustment	$	1,829	$	(4,458)

Components of accumulated other comprehensive loss, net


	Three Months Ended March 31,
	2021		2020
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(35,846)	$	(34,019)
Translation income (loss) during period	1,829		(4,458)


Balance at end of period	$	(34,017)	$	(38,477)
Accumulated deferred losses on cash flow hedges:
Balance at beginning of period	$	(1,125)	$	1,164
Change in unrealized losses	(554)		(2,996)
Amounts reclassified from accumulated other comprehensive loss:
Settlement of cash flow hedge (1)	381		119
Net change in cash flow hedges, net of taxes of $(19) and $(998)	(173)		(2,877)
Balance at end of period	$	(1,298)	$	(1,713)
Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(2,201)	$	(1,600)
Amounts reclassified from accumulated other comprehensive loss: (2)
Amortization of actuarial loss, net of taxes	27		20
Balance at end of period	$	(2,174)	$	(1,580)
Total accumulated other comprehensive loss at end of period	$	(37,489)	$	(41,770)

(1)Amounts reclassified are recorded in interest expense and cost of sales on the unaudited condensed consolidated statement of operations.

(2)Amounts are recorded in selling, general and administrative expense on the unaudited condensed consolidated statements of operations.