EQUITY

Unaudited condensed consolidated statement of changes in owners’ equity

The following table shows the changes in our consolidated owners’ equity accounts from December 31, 2015 to March 31, 2016 (in thousands):



	Common Stock		Additional Paid-in Capital			Treasury Stock			Accumulated Deficit			Accumulated Other Comprehensive Loss			Noncontrolling Interests			Total Owners’ Equity
Balance at December 31, 2015	$	439	$	1,217,255		$	(5,593	)	$	(38,012	)	$	(58,562	)	$	80,829		$	1,196,356
Net income (loss)	—		—			—			(15,268		)	—			9,020			(6,248		)
Other comprehensive loss, net of income taxes	—		—			—			—			(4,109		)	—			(4,109		)
Distributions to noncontrolling interests	—		—			—			—			—			(10,833		)	(10,833		)
Dividends paid	—		(19,887		)	—			—			—			—			(19,887		)
Unvested dividend equivalent rights	—		222			—			—			—			153			375
Non-cash equity compensation	—		2,466			—			—			—			365			2,831
Issuance of common stock under compensation plans	2		688			—			—			—			—			690
Repurchase of common stock	—		—			(807		)	—			—			—			(807		)
Balance at March 31, 2016	$	441	$	1,200,744		$	(6,400	)	$	(53,280	)	$	(62,671	)	$	79,534		$	1,158,368

Accumulated other comprehensive loss

The following table presents the changes in the components of accumulated other comprehensive loss from December 31, 2015 to March 31, 2016 (in thousands):



	Currency Translation			Employee Benefit Plans			Total
Balance at December 31, 2015	$	(57,201	)	$	(1,361	)	$	(58,562	)
Currency translation adjustment, net of income tax benefit of $2,508	(4,114		)	—			(4,114		)
Changes related to benefit plans, net of income tax expense of $2	—			5			5
Balance at March 31, 2016	$	(61,315	)	$	(1,356	)	$	(62,671	)

There were no significant items reclassified out of accumulated other comprehensive loss to net income for the three months ended March 31, 2016.

Common stock

During the three months ended March 31, 2016, we issued 30,718 shares under the Employee Stock Purchase Plan and 131,806 shares related to our equity based compensation awards.

Equity-based compensation

At March 31, 2016, there were 796,797 unvested shares that have been granted under our director and employee compensation programs. The par value of these shares is not reflected in common stock on the condensed consolidated balance sheet, as these shares have not yet vested. For certain of the awards, the number of shares that will vest is contingent upon our achievement of certain specified targets. If we meet the specified maximum targets, approximately 408,000 additional shares could vest.

The holders of certain restricted stock awards are entitled to equivalent dividends (“UDs”) to be received upon vesting of the related restricted stock awards and will be settled in cash. At March 31, 2016, the value of the UDs to be settled in cash related to unvested restricted stock awards was approximately $373 thousand.

During the three months ended March 31, 2016, we granted 517,303 restricted stock awards with a weighted average grant date fair value of $18.59 per award.

Dividends

The following table sets forth the quarterly dividends per share declared and/or paid to shareholders for the periods indicated:



Quarter Ending	Dividend Per Share		Date of Record	Date Paid
March 31, 2015	$	0.34	March 9, 2015	March 20, 2015
June 30, 2015	$	0.38	May 18, 2015	May 29, 2015
September 30, 2015	$	0.42	August 17, 2015	August 25, 2015
December 31, 2015	$	0.45	November 16, 2015	November 24, 2015
March 31, 2016	$	0.45	March 7, 2016	March 17, 2016
June 30, 2016	$	0.45	May 16, 2016	May 26, 2016