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Stockholders' Equity
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
Common Stock
The Company has authorized 100 million shares of Common Stock. Holders of the Company's Common Stock are entitled to one vote per share.
In November 2019, the Company's Board of Directors authorized a program, effective January 1, 2020, that would allow the Company to repurchase up to $25 million of its outstanding Common Stock over the next 12 months (the "2020 Stock Purchase Plan"). Purchases by the Company under the 2020 Stock Purchase Plan would be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The 2020 Stock Purchase Plan does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time. The 2020 Stock Purchase Plan is expected to be funded using cash on hand or borrowings under the Company's bank credit facility. The Company also had $25 million repurchase programs in place during the preceding two years that expired in December 2019 (the “2019 Stock Purchase Plan”) and December 2018 (the “2018 Stock Purchase Plan”), respectively.
The following table shows shares purchased under the respective stock purchase plans:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
 
 
Shares
 
$
 
Shares
 
$
 
Shares
 
$
2019 Stock Purchase Plan
 
79,676

 
$
4.9

 
 
 
 
 
 
 
 
2018 Stock Purchase Plan
 


 


 
124,434

 
$
9.3

 


 


2017 Stock Purchase Plan
 


 


 


 


 
—

 
—

2016 Stock Purchase Plan
 


 


 


 


 
85,354

 
$
6.8



As of December 31, 2019, under the terms of the Fourth Amended and Restated Credit Agreement and the 2021 Senior Notes, the Company has limitations on its ability to repurchase shares of its Common Stock, as further discussed in Note 7, "Debt."
For the years ended December 31, 2019, 2018 and 2017, the Company acquired 17,774 shares, 25,890 shares and 28,000 shares of Common Stock, respectively, at a cost of $1.3 million, $1.5 million and $2.5 million, respectively, for shares surrendered by employees to pay taxes due on vested restricted stock awards and SARs exercised.

Preferred Stock
The Company has authorized 20 million shares of $0.01 par value preferred stock. The preferred stock may be issued in one or more series and with such designations and preferences for each series as shall be stated in the resolutions providing for the designation and issue of each such series adopted by the Board of Directors of the Company. The Board of Directors is authorized by the Company's articles of incorporation to determine the voting, dividend, redemption and liquidation preferences pertaining to each such series. No shares of preferred stock have been issued by the Company.

Other Comprehensive Income (Loss)
Comprehensive income (loss) includes, in addition to net income (loss), gains and losses recorded directly into stockholders' equity on the consolidated balance sheet. These gains and losses are referred to as other comprehensive income (loss) ("OCI") items. AOCI consists of foreign currency translation gains and (losses), adjustments related to pensions and other post-retirement benefits, and, prior to 2018, deferred gains and (losses) on "available-for-sale" securities. The Company does not provide income taxes for foreign currency translation adjustments related to indefinite investments in foreign subsidiaries.
The components of accumulated other comprehensive income (loss), net of applicable income taxes are as follows:
 
 
December 31,
 
 
2019
 
2018
Net loss from pension and other postretirement benefit liabilities, net of income tax benefits of $31.6 million and $29.9 million, respectively
 
$
(94.3
)
 
$
(89.6
)
Unrealized foreign currency translation losses, net of income tax benefits of $0.3 and $0.3, respectively
 
(19.0
)
 
(15.5
)
AOCI
 
$
(113.3
)
 
$
(105.1
)



The following table presents changes in accumulated other comprehensive income (loss):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
 
 
Pretax
Amount
 
Tax
Effect
 
Net
Amount
 
Pretax
Amount
 
Tax
Effect
 
Net
Amount
 
Pretax
Amount
 
Tax
Effect
 
Net
Amount
Unrealized foreign currency translation gains (losses)
 
$
(3.5
)
 
$
—

 
$
(3.5
)
 
$
(7.9
)
 
$
(0.1
)
 
$
(8.0
)
 
$
20.0

 
$
—

 
$
20.0

Adjustment to pension and other benefit liabilities (a)
 
(6.4
)
 
1.7

 
$
(4.7
)
 
(4.4
)
 
1.1

 
(3.3
)
 
(13.8
)
 
2.9

 
(10.9
)
Unrealized loss on "available-for-sale" securities (b)
 
—

 
—

 
—

 
—

 
—

 
—

 
(0.4
)
 
0.1

 
(0.3
)
Other comprehensive income (loss)
 
$
(9.9
)
 
$
1.7

 
$
(8.2
)
 
$
(12.3
)
 
$
1.0

 
$
(11.3
)
 
$
5.8

 
$
3.0

 
$
8.8


_______________________

(a)
In conjunction with the Tax Act, the Company early adopted in the fourth quarter of 2017 ASU 2018-02, Reclassification of Certain Tax Effects From Accumulated Other Comprehensive Income (Topic 740) and accordingly reclassified $10.9 million from AOCI to retained earnings to address the stranded tax effects resulting from the effect of lower tax rates in the Tax Act on items with AOCI.
(b)
The Company adopted ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities as of January 1, 2018. As a result of the adoption, the Company reclassified $0.3 million of unrealized losses (net of $0.1 million income tax effect) on "available-for-sale" securities to beginning retained earnings.


For the years ended December 31, 2019, 2018 and 2017, the Company reclassified $6.0 million, $6.0 million and $5.9 million, respectively, of costs from AOCI to Other expense, net on the consolidated statements of operations. For the years ended December 31, 2019, 2018 and 2017, the Company recognized an income tax benefit of $1.5 million, $1.5 million and $2.3 million, respectively, related to such reclassifications classified as Provision for income taxes on the consolidated statements of operations.
For the year ended December 31, 2019, 2018, and 2017, the Company reclassified costs of $1.3 million, $0.8 million, and $0.6 million, respectively, from AOCI to the pension and SERP plan related adjustments on the Consolidated Statements of Operations. For the years ended December 31, 2019, 2018, and 2017, the Company recognized an income tax benefit of $0.3 million, $0.2 million, and $0.2 million, respectively, related to such reclassifications classified as provision for income taxes on the Consolidated Statements of Operations.