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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2018
Equity [Abstract] |
Summary of Changes in Stockholders' Equity | A summary of the changes in stockholders’ equity for the three months ended March 31, 2018 is as follows:
(In thousands) |  | Stockholders’ Equity |
Balance, December 31, 2017 |  | $ | 497,911 |
Net income |  |  | (10,814 | )
Dividend payments |  |  | (4,367 | )
Dividends accrued for unvested restricted stock units |  |  | (2 | )
Net unrealized gains (losses) on available-for-sale securities (net of tax) |  |  | (3,412 | )
Defined benefit plan adjustments (net of tax) |  |  | 62 |
Foreign currency translation adjustment |  |  | 842 |
Proceeds from stock option exercises |  |  | 369 |
Purchase of treasury stock |  |  | (10,171 | )
Adoption of new accounting standards (see note 1) |  |  | 3,499 |
Stock-based compensation expense |  |  | 1,819 |
Balance, March 31, 2018 |  | $ | 475,736 |
Cash Dividends | During the three months ended March 31, 2018, we paid cash dividends as follows (in thousands except per share amounts):
Record Date |  | Payment Date |  | Per Share Amount |  |  | Total Dividend Paid |
January 31, 2018 |  | February 14, 2018 |  | $ | 0.09 |  |  | $ | 4,367 |
Changes in Accumulated Other Comprehensive Income, Net of Tax by Component | The following tables present the changes in accumulated other comprehensive income, net of tax, by component for the three months ended March 31, 2018 and 2017:
|  | Three Months Ended March 31, 2018 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | Total |
Beginning balance |  | $ | 2,567 |  |  | $ | (4,286 | ) |  | $ | (1,576 | ) |  | $ | (3,295 | )
Other comprehensive income (loss) before reclassifications |  |  | (257 | ) |  |  | — |  |  |  | 842 |  |  |  | 585 |
Amounts reclassified from accumulated other comprehensive income |  |  | 65 |  |  |  | 62 |  |  |  | — |  |  |  | 127 |
Amounts reclassified to retained earnings (1) |  |  | (3,220 | ) |  |  | — |  |  |  | — |  |  |  | (3,220 | )
Net current period other comprehensive income (loss) |  |  | (3,412 | ) |  |  | 62 |  |  |  | 842 |  |  |  | (2,508 | )
Ending balance |  | $ | (845 | ) |  | $ | (4,224 | ) |  | $ | (734 | ) |  | $ | (5,803 | )
| (1) | With the adoption of ASU 2016-01, the unrealized gains on our equity investments were reclassified to retained earnings. See note 1 for more information.
|  | Three Months Ended March 31, 2017 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Unrealized Gains (Losses) on Cash Flow Hedges |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | Total |
Beginning balance |  | $ | 404 |  |  | $ | — |  |  | $ | (5,017 | ) |  | $ | (7,575 | ) |  | $ | (12,188 | )
Other comprehensive income (loss) before reclassifications |  |  | 1,620 |  |  |  | 79 |  |  |  | — |  |  |  | 1,242 |  |  |  | 2,941 |
Amounts reclassified from accumulated other comprehensive income |  |  | (285 | ) |  |  | — |  |  |  | 55 |  |  |  | — |  |  |  | (230 | )
Net current period other comprehensive income (loss) |  |  | 1,335 |  |  |  | 79 |  |  |  | 55 |  |  |  | 1,242 |  |  |  | 2,711 |
Ending balance |  | $ | 1,739 |  |  | $ | 79 |  |  | $ | (4,962 | ) |  | $ | (6,333 | ) |  | $ | (9,477 | )
Reclassifications Out of Accumulated Other Comprehensive Income | The following tables present the details of reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2018 and 2017:
(In thousands) |  | Three Months Ended March 31, 2018
Details about Accumulated Other Comprehensive Income Components |  | Amount Reclassified from Accumulated Other Comprehensive Income |  |  | Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities: |  |  |  |  |  |
Net realized gain on sales of securities |  | $ | (73 | ) |  | Net realized investment gain
Defined benefit plan adjustments – actuarial losses |  |  | (90 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | (163 | ) |  |
Tax (expense) benefit |  |  | 36 |  |  |
Total reclassifications for the period, net of tax |  | $ | (127 | ) |  |
(1) | Included in the computation of net periodic pension cost. See Note 5 of Notes to Consolidated Financial Statements.
(In thousands) |  | Three Months Ended March 31, 2017
Details about Accumulated Other Comprehensive Income Components |  | Amount Reclassified from Accumulated Other Comprehensive Income |  |  | Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities: |  |  |  |  |  |
Net realized gain on sales of securities |  | $ | 572 |  |  | Net realized investment gain
Impairment expense |  |  | (103 | ) |  | Net realized investment gain
Defined benefit plan adjustments – actuarial losses |  |  | (80 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | 389 |  |  |
Tax (expense) benefit |  |  | (159 | ) |  |
Total reclassifications for the period, net of tax |  | $ | 230 |  |  |
| (1) | Included in the computation of net periodic pension cost. See Note 5 of Notes to Consolidated Financial Statements.
Other Comprehensive Income | The following table presents the tax effects related to the change in each component of other comprehensive income for the three months ended March 31, 2018 and 2017:
|  | Three Months Ended |  |  | Three Months Ended |
|  | March 31, 2018 |  |  | March 31, 2017 |
(In thousands) |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |  |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |
Unrealized gains (losses) on available-for-sale securities |  | $ | (347 | ) |  | $ | 90 |  |  | $ | (257 | ) |  | $ | 2,656 |  |  | $ | (1,036 | ) |  | $ | 1,620 |
Unrealized gains (losses) on cash flow hedges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 79 |  |  |  | — |  |  |  | 79 |
Reclassification adjustment for amounts related to available-for-sale investments included in net income |  |  | 73 |  |  |  | (8 | ) |  |  | 65 |  |  |  | (469 | ) |  |  | 184 |  |  |  | (285 | )
Reclassification adjustment for amounts reclassed to retained earnings related to the adoption of ASU 2016-01 |  |  | (3,220 | ) |  |  | — |  |  |  | (3,220 | ) |  |  | — |  |  |  | — |  |  |  | — |
Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income |  |  | 90 |  |  |  | (28 | ) |  |  | 62 |  |  |  | 80 |  |  |  | (25 | ) |  |  | 55 |
Foreign currency translation adjustment |  |  | 842 |  |  |  | — |  |  |  | 842 |  |  |  | 1,242 |  |  |  | — |  |  |  | 1,242 |
Total Other Comprehensive Income (Loss) |  | $ | (2,562 | ) |  | $ | 54 |  |  | $ | (2,508 | ) |  | $ | 3,588 |  |  | $ | (877 | ) |  | $ | 2,711 |

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