Stockholders' equity

9 Months Ended

Sep. 30, 2021

Stockholders' equity

Stockholders' Equity

11. STOCKHOLDERS’ EQUITY

On March 22, 2021, the Company completed the Offering of 10 million shares of common stock at a public offering price of $40 per share. The Company received proceeds of $380 million, net of $20 million of transaction fees.

As of December 31, 2020, the Company had 2.4 million shares authorized and no shares outstanding of the Series A Preferred Stock. On May 17, 2021, the Company filed a Certificate of Elimination of Series A Junior Participating Preferred Stock with the Delaware Secretary of State, thereby removing the Certificate of Designations of the Series A Preferred Stock from the Company’s Amended and Restated Certificate of Incorporation. Therefore, as of September 30, 2021, the Company had no shares authorized and no shares outstanding of the Series A Preferred Stock.

Changes in the components of Accumulated other comprehensive income (loss) are as follows:

	Foreign Currency Translation Adjustments		Unrealized Loss on Interest Rate Swaps		Loss on Pension and Other Postretirement Plans		Total Accumulated Other Comprehensive Loss
Balance as of December 31, 2020	$	1	$	(20)	$	(101)	$	(120)
Other comprehensive (loss) income		(1)		6		1		6
Tax benefit (expense)		—		—		—		—
Balance as of March 31, 2021	$	—	$	(14)	$	(100)	$	(114)
Other comprehensive income		—		4		1		5
Tax benefit (expense)		—		—		—		—
Balance as of June 30, 2021	$	—	$	(10)	$	(99)	$	(109)
Other comprehensive income		—		3		1		4
Tax benefit (expense)		—		—		—		—
Balance as of September 30, 2021	$	—	$	(7)	$	(98)	$	(105)