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Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Stockholders' Equity

14. STOCKHOLDERS’ EQUITY

Stock Repurchase Program

Since 1997, the Company’s Board of Directors has approved multiple share repurchase programs that have authorized repurchases of its common stock, which are implemented through open market or private purchases from time to time as conditions warrant. During the nine months ended September 30, 2020, we did not repurchase shares of our common stock. As of September 30, 2020, we had the authority to purchase an additional 2.5 million shares of our common stock under the current authorization of up to 5.0 million shares.

Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in accumulated other comprehensive income (loss), net of tax, by component for the three months ended September 30, 2020 and 2019:

		Three Months Ended September 30, 2020
(In thousands)		Unrealized Gains (Losses) on Available- for-Sale Securities				Defined Benefit Plan Adjustments				Foreign Currency Adjustments				ASU 2018-02 Adoption (1)				Total
As of June 30, 2020		$	206			$	(8,894	)		$	(7,043	)		$	385			$	(15,346	)
Other comprehensive income before    reclassifications			494				—				2,469				—				2,963
Amounts reclassified from accumulated other    comprehensive income (loss)			(539	)			244				—				—				(295	)
Net current period other comprehensive income			(45	)			244				2,469				—				2,668
As of September 30, 2020		$	161			$	(8,650	)		$	(4,574	)		$	385			$	(12,678	)

		Three Months Ended September 30, 2019
(In thousands)		Unrealized Gains (Losses) on Available- for-Sale Securities				Defined Benefit Plan Adjustments				Foreign Currency Adjustments				ASU 2018-02 Adoption (1)				Total
As of June 30, 2019		$	(271	)		$	(7,770	)		$	(6,439	)		$	385			$	(14,095	)
Other comprehensive income before    reclassifications			(39	)			—				(2,486	)			—				(2,525	)
Amounts reclassified from accumulated other    comprehensive income (loss)			24				90				—				—				114
Net current period other comprehensive income			(15	)			90				(2,486	)			—				(2,411	)
As of September 30, 2019		$	(286	)		$	(7,680	)		$	(8,925	)		$	385			$	(16,506	)

^{(1) With the adoption of ASU 2018-02 on January 1, 2019, stranded tax effects related to the Tax Cuts and Jobs Act of 2017 were reclassified to retained earnings.}

The following tables present the changes in accumulated other comprehensive income (loss), net of tax, by component for the nine months ended September 30, 2020 and 2019:

		Nine Months Ended September 30, 2020
(In thousands)		Unrealized Gains (Losses) on Available- for-Sale Securities				Defined Benefit Plan Adjustments				Foreign Currency Adjustments				ASU 2018-02 Adoption(1)				Total
As of December 31, 2019		$	(284	)		$	(9,226	)		$	(7,292	)		$	385			$	(16,417	)
Other comprehensive income (loss) before    reclassifications			444				—				2,718				—				3,162
Amounts reclassified from accumulated other    comprehensive income			1				576				—				—				577
Net current period other comprehensive income			445				576				2,718				—				3,739
As of September 30, 2020		$	161			$	(8,650	)		$	(4,574	)		$	385			$	(12,678	)

		Nine Months Ended September 30, 2019
(In thousands)		Unrealized Gains (Losses) on Available- for-Sale Securities				Defined Benefit Plan Adjustments				Foreign Currency Adjustments				ASU 2018-02 Adoption (1)				Total
As of December 31, 2018		$	(563	)		$	(8,041	)		$	(5,812	)		$	—			$	(14,416	)
Other comprehensive income (loss) before    reclassifications			372				—				(3,113	)			—				(2,741	)
Amounts reclassified from accumulated other    comprehensive income (loss)			(95	)			361				—				—				266
Amounts reclassified to retained earnings (1)			—				—				—				385				385
Net current period other comprehensive income   (loss)			277				361				(3,113	)			385				(2,090	)
As of September 30, 2019		$	(286	)		$	(7,680	)		$	(8,925	)		$	385			$	(16,506	)

^{(1) With the adoption of ASU 2018-02 on January 1, 2019, stranded tax effects related to the Tax Cuts and Jobs Act of 2017 were reclassified to retained earnings.}

The following tables present the details of reclassifications out of accumulated other comprehensive income (loss) for the three months ended September 30, 2020 and 2019:

		Three Months Ended September 30, 2020
(In thousands)		Amount Reclassified from Accumulated Other Comprehensive Income (Loss)				Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized gains on sales of securities		$	728			Net investment gain (loss)
Defined benefit plan adjustments – actuarial losses			(354	)		(1)
Total reclassifications for the period, before tax			374
Tax expense			(79	)
Total reclassifications for the period, net of tax		$	295

^{(1) Included in the computation of net periodic pension cost. See Note 5.}

		Three Months Ended September 30, 2019
(In thousands)		Amount Reclassified from Accumulated Other Comprehensive Income (Loss)				Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized losses on sales of securities		$	(32	)		Net investment gain (loss)
Defined benefit plan adjustments – actuarial losses			(130	)		(1)
Total reclassifications for the period, before tax			(162	)
Tax benefit			48
Total reclassifications for the period, net of tax		$	(114	)

^{(1) Included in the computation of net periodic pension cost. See Note 5.}

The following tables present the details of reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2020 and 2019:

		Nine Months Ended September 30, 2020
(In thousands)		Amount Reclassified from Accumulated Other Comprehensive Income (Loss)				Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains (losses) on available-for-sale securities:
Net realized losses on sales of securities		$	(1	)		Net investment gain (loss)
Defined benefit plan adjustments – actuarial losses			(835	)		(1)
Total reclassifications for the period, before tax			(836	)
Tax benefit			259
Total reclassifications for the period, net of tax		$	(577	)

^{(1) Included in the computation of net periodic pension cost. See Note 5.}

		Nine Months Ended September 30, 2019
(In thousands)		Amount Reclassified from Accumulated Other Comprehensive Income (Loss)				Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gains on available-for-sale securities:
Net realized gains on sales of securities		$	128			Net investment gain (loss)
Defined benefit plan adjustments – actuarial losses			(523	)		(1)
Total reclassifications for the period, before tax			(395	)
Tax benefit			129
Total reclassifications for the period, net of tax		$	(266	)

^{(1) Included in the computation of net periodic pension cost. See Note 5.}

The following table presents the tax effects related to the change in each component of other comprehensive loss for the three months ended September 30, 2020 and 2019: 

		Three Months Ended												Three Months Ended
		September 30, 2020												September 30, 2019
(In thousands)		Before-Tax Amount				Tax (Expense) Benefit				Net-of-Tax Amount				Before-Tax Amount				Tax (Expense) Benefit				Net-of-Tax Amount
Unrealized gain on available-for-sale    securities		$	668			$	(174	)		$	494			$	(53	)		$	14			$	(39	)
Reclassification adjustment for amounts related to    available-for-sale investments included in net    income (loss)			(728	)			189				(539	)			32				(8	)			24
Reclassification adjustment for amounts related to    defined benefit plan adjustments included in net    income (loss)			354				(110	)			244				130				(40	)			90
Foreign currency translation adjustment			2,469				—				2,469				(2,486	)			—				(2,486	)
Total Other Comprehensive Income (Loss)		$	2,763			$	(95	)		$	2,668			$	(2,377	)		$	(34	)		$	(2,411	)

The following table presents the tax effects related to the change in each component of other comprehensive income (loss) for the nine months ended September 30, 2020 and 2019:

		Nine Months Ended												Nine Months Ended
		September 30, 2020												September 30, 2019
(In thousands)		Before-Tax Amount				Tax (Expense) Benefit				Net-of-Tax Amount				Before-Tax Amount				Tax (Expense) Benefit				Net-of-Tax Amount
Unrealized gain (loss) on available-for-sale    securities		$	600			$	(156	)		$	444			$	503			$	(131	)		$	372
Reclassification adjustment for amounts related to    available-for-sale investments included in net    income (loss)			1				—				1				(128	)			33				(95	)
Reclassification adjustment for amounts related to    defined benefit plan adjustments included in net    income (loss)			835				(259	)			576				523				(162	)			361
Foreign currency translation adjustment			2,718				—				2,718				(3,113	)			—				(3,113	)
Total Other Comprehensive Income (Loss)		$	4,154			$	(415	)		$	3,739			$	(2,215	)		$	(260	)		$	(2,475	)

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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