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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Stockholders' Equity | 13. STOCKHOLDERS’ EQUITY Stock Repurchase Program During the six months ended June 30, 2022, we did no t repurchase any shares of our common stock. As of June 30, 2022, 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. Subsequent to the Business Combination in July 2022, there is no current authorization to repurchase common stock. Accumulated Other Comprehensive Loss The following tables present the changes in accumulated other comprehensive loss, net of tax, by component:
|  | Three Months Ended June 30, 2022 |
(In thousands) |  | Unrealized (Losses) Gains on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
Balance as of March 31, 2022 |  | $ | (1,276 | ) |  | $ | (5,626 | ) |  | $ | (7,039 | ) |  | $ | 385 |  |  | $ | (13,556 | )
Other comprehensive loss before reclassifications |  |  | (589 | ) |  |  | — |  |  |  | (2,853 | ) |  |  | — |  |  |  | (3,442 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | 389 |  |  |  | (87 | ) |  |  | — |  |  |  | — |  |  |  | 302 |
Net current period other comprehensive loss |  |  | (200 | ) |  |  | (87 | ) |  |  | (2,853 | ) |  |  | — |  |  |  | (3,140 | )
Balance as of June 30, 2022 |  | $ | (1,476 | ) |  | $ | (5,713 | ) |  | $ | (9,892 | ) |  | $ | 385 |  |  | $ | (16,696 | )
|  | Three Months Ended June 30, 2021 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
Balance as of March 31, 2021 |  | $ | (160 | ) |  | $ | (9,522 | ) |  | $ | (4,298 | ) |  | $ | 385 |  |  | $ | (13,595 | )
Other comprehensive (loss) income before reclassifications |  |  | (272 | ) |  |  | — |  |  |  | 338 |  |  |  | — |  |  |  | 66 |
Amounts reclassified from accumulated other comprehensive loss |  |  | 177 |  |  |  | 212 |  |  |  | — |  |  |  | — |  |  |  | 389 |
Net current period other comprehensive (loss) income |  |  | (95 | ) |  |  | 212 |  |  |  | 338 |  |  |  | — |  |  |  | 455 |
Balance as of June 30, 2021 |  | $ | (255 | ) |  | $ | (9,310 | ) |  | $ | (3,960 | ) |  | $ | 385 |  |  | $ | (13,140 | )
|  | Six Months Ended June 30, 2022 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
As of December 31, 2021 |  | $ | (552 | ) |  | $ | (5,613 | ) |  | $ | (6,134 | ) |  | $ | 385 |  |  | $ | (11,914 | )
Other comprehensive loss before reclassifications |  |  | (1,564 | ) |  |  | — |  |  |  | (3,758 | ) |  |  | — |  |  |  | (5,322 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | 640 |  |  |  | (100 | ) |  |  | — |  |  |  | — |  |  |  | 540 |
Net current period other comprehensive loss |  |  | (924 | ) |  |  | (100 | ) |  |  | (3,758 | ) |  |  | — |  |  |  | (4,782 | )
As of June 30, 2022 |  | $ | (1,476 | ) |  | $ | (5,713 | ) |  | $ | (9,892 | ) |  | $ | 385 |  |  | $ | (16,696 | )
|  | Six Months Ended June 30, 2021 |
(In thousands) |  | Unrealized Gains (Losses) on Available- for-Sale Securities |  |  | Defined Benefit Plan Adjustments |  |  | Foreign Currency Adjustments |  |  | ASU 2018-02 Adoption |  |  | Total |
As of December 31, 2020 |  | $ | 32 |  |  | $ | (9,621 | ) |  | $ | (2,435 | ) |  | $ | 385 |  |  | $ | (11,639 | )
Other comprehensive loss before reclassifications |  |  | (329 | ) |  |  | — |  |  |  | (1,525 | ) |  |  | — |  |  |  | (1,854 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | 42 |  |  |  | 311 |  |  |  | — |  |  |  | — |  |  |  | 353 |
Net current period other comprehensive (loss) income |  |  | (287 | ) |  |  | 311 |  |  |  | (1,525 | ) |  |  | — |  |  |  | (1,501 | )
As of June 30, 2021 |  | $ | (255 | ) |  | $ | (9,310 | ) |  | $ | (3,960 | ) |  | $ | 385 |  |  | $ | (13,140 | )
The following tables present the details of reclassifications out of accumulated other comprehensive loss:
|  | Three Months Ended June 30, 2022
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | (512 | ) |  | Net investment gain (loss)
Defined benefit plan adjustments – actuarial gain |  |  | 126 |  |  | (1)
Total reclassifications for the period, before tax |  |  | (386 | ) |  |
Tax benefit |  |  | 84 |  |  |
Total reclassifications for the period, net of tax |  | $ | (302 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Income.
|  | Three Months Ended June 30, 2021
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net (Loss) Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | (233 | ) |  | Net investment gain (loss)
Defined benefit plan adjustments – actuarial losses |  |  | (307 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | (540 | ) |  |
Tax benefit |  |  | 151 |  |  |
Total reclassifications for the period, net of tax |  | $ | (389 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Income.
|  | Six Months Ended June 30, 2022
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | (842 | ) |  | Net investment gain (loss)
Defined benefit plan adjustments – actuarial gain |  |  | 145 |  |  | (1)
Total reclassifications for the period, before tax |  |  | (697 | ) |  |
Tax benefit |  |  | 157 |  |  |
Total reclassifications for the period, net of tax |  | $ | (540 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Income.
|  | Six Months Ended June 30, 2021
(In thousands) |  | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income |  |  | Affected Line Item in the Statement Where Net Income Is Presented
Unrealized gain (loss) on available-for-sale securities: |  |  |  |  |
Net realized loss on sales of securities |  | $ | (55 | ) |  | Net investment gain (loss)
Defined benefit plan adjustments – actuarial gain |  |  | (451 | ) |  | (1)
Total reclassifications for the period, before tax |  |  | (506 | ) |  |
Tax benefit |  |  | 153 |  |  |
Total reclassifications for the period, net of tax |  | $ | (353 | ) |  |
(1) A part of the computation of net periodic pension cost, which is included in other (expense) income, net in the Condensed Consolidated Statements of Income. The following tables present the tax effects related to the change in each component of other comprehensive (loss) income:
|  | Three Months Ended |  |  | Three Months Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
(In thousands) |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |  |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |
Unrealized loss on available-for-sale securities |  | $ | (775 | ) |  | $ | 186 |  |  | $ | (589 | ) |  | $ | (358 | ) |  | $ | 86 |  |  | $ | (272 | )
Reclassification adjustment for amounts related to available-for-sale investments included in net income |  |  | 512 |  |  |  | (123 | ) |  |  | 389 |  |  |  | 233 |  |  |  | (56 | ) |  |  | 177 |
Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income |  |  | (126 | ) |  |  | 39 |  |  |  | (87 | ) |  |  | 307 |  |  |  | (95 | ) |  |  | 212 |
Foreign currency translation adjustment |  |  | (2,853 | ) |  |  | — |  |  |  | (2,853 | ) |  |  | 338 |  |  |  | — |  |  |  | 338 |
Total Other Comprehensive (Loss) Income |  | $ | (3,242 | ) |  | $ | 102 |  |  | $ | (3,140 | ) |  | $ | 520 |  |  | $ | (65 | ) |  | $ | 455 |
|  | Six Months Ended |  |  | Six Months Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
(In thousands) |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |  |  | Before-Tax Amount |  |  | Tax (Expense) Benefit |  |  | Net-of-Tax Amount |
Unrealized loss on available-for-sale securities |  | $ | (2,058 | ) |  | $ | 494 |  |  | $ | (1,564 | ) |  | $ | (433 | ) |  | $ | 104 |  |  | $ | (329 | )
Reclassification adjustment for amounts related to available-for-sale investments included in net income |  |  | 842 |  |  |  | (202 | ) |  |  | 640 |  |  |  | 55 |  |  |  | (13 | ) |  |  | 42 |
Reclassification adjustment for amounts related to defined benefit plan adjustments included in net income |  |  | (145 | ) |  |  | 45 |  |  |  | (100 | ) |  |  | 451 |  |  |  | (140 | ) |  |  | 311 |
Foreign currency translation adjustment |  |  | (3,758 | ) |  |  | — |  |  |  | (3,758 | ) |  |  | (1,525 | ) |  |  | — |  |  |  | (1,525 | )
Total Other Comprehensive Loss |  | $ | (5,119 | ) |  | $ | 337 |  |  | $ | (4,782 | ) |  | $ | (1,452 | ) |  | $ | (49 | ) |  | $ | (1,501 | )

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