NOTE 6 – Stockholders’ Equity

Changes in the components of stockholders’ equity are as follows (in thousands, except per share amounts):


									Accumulated
			Class A		Additional				Other
	Common		Common		Paid-in		Retained		Comprehensive
	Stock		Stock		Capital		Earnings		Loss
Balance at December 31, 2017- as originally reported	$	1,827	$	1,487	$	5,877	$	110,220	$	(4,699)
Adoption of ASU 2014-09 (see NOTE 3)		—		—		—		(403)		—
Balance at December 31, 2017- revised		1,827		1,487		5,877		109,817		(4,699)
Adoption of ASU 2016-01 (see NOTE 3)		—		—		—		34		(34)
Net loss		—		—		—		(389)		—
Issuance of restricted stock awards, net of forfeitures		21		—		(21)		—		—
Stock-based compensation		—		—		187		—		—
Change in net actuarial loss and prior service cost, net of income tax expense of $34		—		—		—		—		88
Repurchase and retirement of common stock		(7)		—		(67)		—		—
Balance at September 30, 2018	$	1,841	$	1,487	$	5,976	$	109,462	$	(4,645)

As of September 30, 2018 and December 31, 2017, accumulated other comprehensive loss consists of the following:


	September 30, 2018		December 31, 2017
Net actuarial loss and prior service cost not yet recognized in net periodic benefit cost, net of income tax benefit of $3,118,000 and $3,152,000, respectively	$	(4,645,000)	$	(4,733,000)
Accumulated unrealized gain on available-for-sale securities, net of income tax expense of $23,000		—		34,000
Accumulated other comprehensive loss	$	(4,645,000)	$	(4,699,000)

On January 23, 2013, our Board of Directors suspended the quarterly dividend. In addition, our credit facility prohibits the payment of dividends. See NOTE 4 – Credit Facility.

On October 23, 2002, our Board of Directors authorized the repurchase of up to 3,000,000 shares of our outstanding common stock. The purchases may be made in the open market or in privately negotiated transactions as conditions warrant. The repurchase authorization has no expiration date, does not obligate us to acquire any specific number of shares and may be suspended at any time. No purchases of our equity securities were made pursuant to this authorization during the first nine months of 2018 or 2017. At September 30, 2018, we had remaining repurchase authority of 1,653,333 shares. At present we are not permitted to make such purchases under our credit facility.

We have a stock incentive plan which provides for the grant of up to 2,000,000 shares of common stock to our officers and key employees through stock options and/or awards valued in whole or in part by reference to our common stock, such as nonvested restricted stock awards. Under the plan, nonvested restricted stock vests an aggregate of twenty percent each year beginning on the second anniversary date of the grant. The aggregate market value of the nonvested restricted stock at the date of issuance is being amortized on a straight-line basis over the six-year period. We granted 213,500 and 208,500 stock awards under this plan during the nine months ended September 30, 2018 and 2017, respectively. As of September 30, 2018, there were 911,278 shares available for granting options or stock awards.

During the nine months ended September 30, 2018 and 2017, we purchased and retired 72,722 and 70,483 shares of our outstanding common stock for $74,000 and $74,000, respectively. These purchases were made from employees in connection with the vesting of restricted stock awards under our stock incentive plan and were not pursuant to the aforementioned repurchase authorization. Since the vesting of a restricted stock award is a taxable event to our employees for which income tax withholding is required, the plan allows employees to surrender to us some of the shares that would otherwise have transferred to the employee in satisfaction of their tax liability. The surrender of these shares is treated by us as a purchase of the shares.