The company holds 10.9 million shares of its common stock at a cost of $119.8 million. Treasury stock is recorded at cost and reduces stockholders’ equity in the consolidated balance sheets. When shares are reissued, the company will use the weighted average cost method for determining the cost basis. The difference between the cost and the issuance price is added or deducted from additional paid-in capital.

On October 30, 2019, the company’s board of directors authorized an additional $100 million share repurchase taking the previously authorized amount from $100 million to $200 million. Under the program, the company may repurchase shares in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means. The timing and amount of repurchase transactions are determined by its management based on market conditions, share price, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice. The company repurchased 5,396,608 shares of common stock for approximately $61.6 million during 2019. Since inception, the company has repurchased 6,515,957 shares of common stock for approximately $81.4 million under the program.

On June 18, 2019, the company announced that its board of directors decided to suspend its future quarterly cash dividend following the June 14, 2019 dividend payment, in order to retain and redirect cash flow to the company’s Project 24 operating expense equalization plan, the deployment of high-protein technology and its stock repurchase program.

For each calendar quarter commencing with the quarter ended September 30, 2015, the partnership agreement provides for a quarterly distribution to be paid within 45 days after the end of the quarter, proided the partnership has sufficient available cash. Available cash generally means, all cash and cash equivalents on hand at the end of that quarter less cash reserves established by the general partner of the partnership plus all or any portion of the cash on hand resulting from working capital borrowings made subsequent to the end of that quarter. On January 16, 2020, the board of directors of the general partner of the partnership declared a cash distribution of $0.475 per unit on outstanding common units. The distribution is payable on February 7, 2020, to unitholders of record at the close of business on January 31, 2020.

Changes in accumulated other comprehensive income are associated primarily with gains and losses on derivative financial instruments. Amounts reclassified from accumulated other comprehensive income are as follows (in thousands):


	Year Ended December 31,						Statements of Operations
	2019		2018		2017		Classification
Gains (losses) on cash flow hedges:
Commodity derivatives	$	-	$	3,648	$	42,710	⁽¹⁾
Commodity derivatives		-		1,258		(11,765)	⁽²⁾
Total gains on cash flow hedges from continuing operations		-		4,906		30,945	⁽³⁾

Gains (losses) on cash flow hedges from discontinued operations, net of income taxes		38,795		(10,092)		(15,566)	⁽⁴⁾

Income tax benefit		-		1,483		11,454	⁽⁵⁾
Amounts reclassified from accumulated other comprehensive income (loss)	$	38,795	$	(6,669)	$	3,925

(3)Income (loss) from continuing operations before income taxes and income (loss) from equity method investees