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OTHER | 6 Months Ended
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Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
OTHER | OTHER Cash dividends Dividends declared in the six months ended June 30, 2023 were as follows:
Dividend per share |  | Date declared |  | Date of record |  | Payment date
$0.0425 |  | 3/8/2023 |  | 5/1/2023 |  | 5/15/2023
$0.0425 |  | 6/22/2023 |  | 8/1/2023 |  | 8/15/2023
During the six months ended June 30, 2023, the Company paid dividends of $1.9 million. This included payments made on February 15, 2023 and May 15, 2023 of $0.9 million and $0.9 million to stockholders of record on February 1, 2023 and May 1, 2023, 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, 2023, the Company reduced retained earnings for the accrual of $1.0 million relating to the dividend payable on August 15, 2023. On August 2, 2023, the Board declared a quarterly dividend of $0.0425 per share of common stock payable on November 15, 2023 to stockholders of record on November 1, 2023. Stock repurchase program On March 14, 2022, the Company announced that its Board authorized the repurchase of up to $20.0 million of the Company’s common stock, replacing the Company’s previously-authorized $10.0 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 six months ended June 30, 2023, the Company repurchased 320,204 shares for a total cost of $2.5 million and thereafter retired the shares. Supplemental cash flow information
| Six Months Ended June 30,
| 2023 |  | 2022
| (in thousands)
Supplemental disclosure of cash flow information: |  |  |
Cash paid for interest | $ | 10,453 |  |  | $ | 6,598 |
Cash paid for taxes, net of refunds | 3,188 |  |  | 5,862 |
Components of accumulated other comprehensive loss, net
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in thousands)
Accumulated translation adjustment: |  |  |  |  |  |  |
Balance at beginning of period | $ | (34,511) |  |  | $ | (31,868) |  |  | $ | (36,072) |  |  | $ | (31,752) |
Translation adjustment during period | 1,237 |  |  | (4,307) |  |  | 2,798 |  |  | (4,423) |
Balance at end of period | $ | (33,274) |  |  | $ | (36,175) |  |  | $ | (33,274) |  |  | $ | (36,175) |
Accumulated deferred (losses) gains on cash flow hedges: |  |  |  |  |  |  |
Balance at beginning of period | $ | (230) |  |  | $ | 686 |  |  | $ | 923 |  |  | $ | 78 |
Change in unrealized (losses) gains | (261) |  |  | 1,079 |  |  | (511) |  |  | 1,577 |
Amounts reclassified from accumulated other comprehensive loss: |  |  |  |  |  |  |
Settlement of cash flow hedge (1) | (39) |  |  | (129) |  |  | (942) |  |  | (19) |
Net change in cash flow hedges, net of taxes of $0, $243, $(2), $413 | (300) |  |  | 950 |  |  | (1,453) |  |  | 1,558 |
Balance at end of period | $ | (530) |  |  | $ | 1,636 |  |  | $ | (530) |  |  | $ | 1,636 |
Accumulated effect of retirement benefit obligations: |  |  |  |  |  |  |
Balance at beginning of period | $ | (693) |  |  | $ | (1,846) |  |  | $ | (705) |  |  | $ | (1,875) |
Amounts reclassified from accumulated other comprehensive loss: (2) |  |  |  |  |  |  |
Amortization of actuarial loss, net of taxes of $(4), $(10), $(8), $(19) | 11 |  |  | 29 |  |  | 23 |  |  | 58 |
Balance at end of period | $ | (682) |  |  | $ | (1,817) |  |  | $ | (682) |  |  | $ | (1,817) |
Total accumulated other comprehensive loss at end of period | $ | (34,486) |  |  | $ | (36,356) |  |  | $ | (34,486) |  |  | $ | (36,356) |
(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.

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