Stockholders’ Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Stockholders’ Equity

Stockholders’ Equity

Capital Stock 

The following table sets forth the Company’s authorized capital stock information:

	MARCH 31 2024	DECEMBER 31 2023	MARCH 31 2023
Preferred stock, par value $0.01 per share
Preferred stock authorized	5,000	5,000	5,000
Preferred stock outstanding	—	—	—
Class A Common stock, par value $0.01 per share
Class A Common authorized	70,000	70,000	70,000
Class A Common issued (1)(2)	11,427	11,161	11,070
Treasury Stock (3)	907	877	626
Class B Common stock, par value $0.01 per share, convertible into Class A Common stock on a one-for-one basis
Class B Common authorized	30,000	30,000	30,000
Class B Common issued (1)	3,612	3,616	3,629

(1) Class B Common converted to Class A Common were 4 and 215 shares during the three months ending March 31, 2024 and 2023, respectively.

(2) The Company issued Class A Common of 262 and 192 shares during the three months ending March 31, 2024 and 2023, respectively.

(3) On March 5, 2024, a total of 30 mandatory cashless-exercise-award shares of Class A Common were surrendered to the Company by the participants of our Executive Long-Term Equity Incentive Compensation Plan (the “Incentive Plan”) in order to satisfy the participants’ tax withholding obligations with respect to shares of Class A Common awarded under the Incentive Plan on March 5, 2024.

Stock Repurchase Program: In November 2023, the Company’s Board approved a stock repurchase program for the purchase of up to $25 million of the Company’s Class A Common outstanding starting January 1, 2024 and ending December 31, 2025. This program replaced the previous stock repurchase plan that started February 22, 2022 and ended December 31, 2023. There were no share repurchases during the three months ended March 31, 2024 or 2023. During the year ended December 31, 2023, the Company repurchased 250,772 shares for an aggregate purchase price of $3.1 million. As of March 31, 2024, the Company had $25.0 million remaining authorized for repurchase.

Accumulated Other Comprehensive Loss: The following table summarizes changes in accumulated other comprehensive loss by component and related tax effects for periods shown:

	Foreign Currency		Deferred Gain (Loss) on Cash Flow Hedging		Pension Plan Adjustment		Total
Balance, January 1, 2024	$	(6,412)	$	2,424	$	(6,679)	$	(10,667)
Other comprehensive income (loss)	(1,097)		29		—		(1,068)
Reclassification adjustment to net income (loss)	—		647		94		741
Tax effects	—		(167)		(23)		(190)
Balance, March 31, 2024	$	(7,509)	$	2,933	$	(6,608)	$	(11,184)
Balance, January 1, 2023	$	(8,924)	$	4,158	$	(7,152)	$	(11,918)
Other comprehensive income (loss)	715		(1,881)		—		(1,166)
Reclassification adjustment to net income (loss)	—		252		87		339
Tax effects	(194)		379		(23)		162
Balance, March 31, 2023	$	(8,403)	$	2,908	$	(7,088)	$	(12,583)