SHAREHOLDERS’ EQUITY

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

SHAREHOLDERS’ EQUITY

SHAREHOLDERS’ EQUITY

Shareholders’ Equity and Preferred Stock

As of December 31, 2024 there were 4,493,338 shares of our common stock outstanding and 12,000,000 shares authorized with a par value of $0.30 per share.

As of December 31, 2024 we had 500,000 authorized shares of preferred stock, none of which had been issued.

Warrants

In connection with the APSC Term Loan Credit Agreement and the Subordinated Term Loan Credit Agreement, we entered into Warrant Agreements and Waivers related to our common stock. The APSC Term Loan Credit Agreement was fully paid off in June of 2023. For additional details, see Note 11 - Debt.

Accumulated Other Comprehensive Income (loss)

A summary of changes in accumulated other comprehensive loss included within shareholders’ equity is as follows (in thousands):

	Twelve Months Ended December 31, 2024										Twelve Months Ended December 31, 2023
	Foreign Currency Translation Adjustments		Foreign Currency Hedge		Defined benefit pension plans		Tax Provision		Total		Foreign Currency Translation Adjustments		Foreign Currency Hedge		Defined benefit pension plans		Tax Provision		Total
Balance at beginning of year	$	(28,841)	$	2,988	$	(11,041)	$	(38)	$	(36,932)	$	(31,847)	$	2,988	$	(10,474)	$	336	$	(38,997)
Other comprehensive income (loss)	(7,396)		—		90		109		(7,197)		3,006		—		(567)		(374)		2,065
Balance at end of year	$	(36,237)	$	2,988	$	(10,951)	$	71	$	(44,129)	$	(28,841)	$	2,988	$	(11,041)	$	(38)	$	(36,932)

The following table represents the related tax effects allocated to each component of other comprehensive income (loss) (in thousands):

	Twelve Months Ended December 31,
	2024						2023
	Gross Amount		Tax Effect		Net Amount		Gross Amount		Tax Effect		Net Amount
Foreign currency translation adjustments	$	(7,396)	$	73	$	(7,323)	$	3,006	$	22	$	3,028
Defined benefit pension plan	90		36		126		(567)		(396)		(963)
Total	$	(7,306)	$	109	$	(7,197)	$	2,439	$	(374)	$	2,065