Shareholders' Equity

6 Months Ended

Jun. 29, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

Share Buyback Program

On February 24, 2016, the Company’s Board of Directors authorized the repurchase of up to $50 million of common stock (the “Buyback Program”). The Buyback Program allowed the Company to purchase shares of its common stock in accordance with applicable securities laws on the open market or through privately negotiated transactions. The Company has repurchased approximately 1,675,000 shares and has completed that program. On December 12, 2017, the Company’s Board of Directors authorized an additional repurchase of up to $50 million. No amounts have been repurchased under the new program as of June 29, 2019.

Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss are as follows: 

(In thousands)	June 29, 2019		December 31, 2018
Foreign Currency Translation Adjustments	$	(6,542)	$	(7,156)
Retirement Liability Adjustment – Before Tax	(7,442)		(7,814)
Tax Benefit of Retirement Liability Adjustment	1,563		1,641
Retirement Liability Adjustment – After Tax	(5,879)		(6,173)
Accumulated Other Comprehensive Loss	$	(12,421)	$	(13,329)

The components of other comprehensive income (loss) are as follows: 

	Six Months Ended				Three Months Ended
(In thousands)	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Foreign Currency Translation Adjustments	$	614	$	(1,572)	$	884	$	(1,805)
Retirement Liability Adjustments:
Reclassifications to General and Administrative Expense:
Amortization of Prior Service Cost	201		202		100		101
Amortization of Net Actuarial Losses	171		343		86		172
Tax Benefit	(78)		(115)		(42)		(58)
Retirement Liability Adjustment	294		430		144		215
Other Comprehensive Income (Loss)	$	908	$	(1,142)	$	1,028	$	(1,590)