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OTHER
 6 Months Ended
Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER OTHER
Cash dividends
Dividends declared in the six months ended June 30, 2022 were as follows:
Dividend per shareDate declaredDate of recordPayment date
$0.04253/8/20225/2/20225/16/2022
$0.04256/23/20228/1/20228/15/2022
During the six months ended June 30, 2022, the Company paid dividends of $1.9 million. This included payments made on February 14, 2022 and May 16, 2022 of $0.9 million and $0.9 million to stockholders of record on January 31, 2022 and May 2, 2022, respectively, and payments of $0.1 million for dividends payable upon the vesting of restricted shares and performance shares.
In the three months ended June 30, 2022, the Company reduced retained earnings for the accrual of $1.0 million relating to the dividend payable on August 15, 2022.
On August 2, 2022, the Board of Directors declared a quarterly dividend of $0.0425 per share of common stock payable on November 15, 2022 to stockholders of record on November 1, 2022.
Stock repurchase program
On March 14, 2022, the Company announced that its Board of Directors of the Company authorized the repurchase of up to $20.0 million of the Company’s common stock, replacing the Company’s previously-authorized $10 million share repurchase program. The repurchase authorization permits the Company to effect the repurchases from time to time through open market purchases and privately negotiated transactions. During the three and six months ended June 30, 2022, the Company repurchased 285,646 and 336,791 shares, respectively, for a total cost of $3.5 million and $4.2 million respectively, and thereafter retired the shares. Please see Part II, Item 2—Unregistered Sales of Equity Securities and Use of Proceeds included in this Quarterly Report on Form 10-Q.
Supplemental cash flow information
Six Months Ended
June 30,
20222021
(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest$6,598 $6,896 
Cash paid for taxes, net of refunds5,862 10,793 
Non-cash investing activities:
Net (loss) on dilution of Vasconia ownership$— $(310)
Components of accumulated other comprehensive loss, net
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
(in thousands)
Accumulated translation adjustment:
Balance at beginning of period$(31,868)$(34,017)$(31,752)$(35,846)
Translation adjustment during period(4,307)352 (4,423)2,181 
Amounts reclassified from accumulated other comprehensive loss (1)
— 2,042 — 2,042 
Translation Adjustment (4,307)2,394 (4,423)4,223 
Balance at end of period$(36,175)$(31,623)$(36,175)$(31,623)
Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of period$686 $(1,298)$78 $(1,125)
Change in unrealized gains (losses)
1,079 (229)1,577 (783)
Amounts reclassified from accumulated other comprehensive loss:
Settlement of cash flow hedge (2)
(129)465 (19)846 
Net change in cash flow hedges, net of taxes of $243, $73, $413, $54
950 236 1,558 63 
Balance at end of period$1,636 $(1,062)$1,636 $(1,062)
Accumulated effect of retirement benefit obligations:
Balance at beginning of period$(1,846)$(2,174)$(1,875)$(2,201)
Amounts reclassified from accumulated other comprehensive loss: (3)
Amortization of actuarial loss, net of taxes29 41 58 68 
Balance at end of period$(1,817)$(2,133)$(1,817)$(2,133)
Total accumulated other comprehensive loss at end of period
$(36,356)$(34,818)$(36,356)$(34,818)
(1)Amounts are recorded in equity in earnings on the unaudited condensed statements of operations.
(2)Amounts reclassified are recorded in interest expense and cost of sales on the unaudited condensed consolidated statement of operations.
(3)Amounts are recorded in selling, general and administrative expense on the unaudited condensed consolidated statements of operations.