Changes in Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

The following table summarizes changes in Shareholders’ Equity for the period December 31, 2019 to June 30, 2020:

	Class A Common Stock			Class B Common Stock			Additional paid-in capital		Retained earnings		Accumulated items of other  comprehensive income		Class A Treasury Stock			Noncontrolling Interest		Total Equity
(in thousands)	Shares	Amount		Shares	Amount								Shares	Amount
December 31, 2019	39,099	$	39	1,618	$	2	$	432,518	$	698,496	$	(175,981)	8,409	$	(256,391)	$	4,006	$	702,689
Adoption of accounting standards (a)	—	—		—	—		—		(1,443)		—		—	—		—		(1,443)
Net income	—	—		—	—		—		9,109		—		—	—		(1,515)		7,594
Compensation and benefits paid or payable in shares	13	—		—	—		(682)		—		—		—	—		—		(682)
Options exercised	—	—		—	—		—		—		—		—	—		—		—
Shares issued to Directors	—	—		—	—		—		—		—		—	—		—		—
Dividends declared
Class A Common Stock, $0.19 per share	—	—		—	—		—		(5,834)		—		—	—		—		(5,834)
Class B Common Stock, $0.19 per share	—	—		—	—		—		(307)		—		—	—		—		(307)
Cumulative translation adjustments	—	—		—	—		—		—		(25,747)		—	—		109		(25,638)
Pension and postretirement liability adjustments	—	—		—	—		—		—		890		—	—		—		890
Derivative valuation adjustment	—	—		—	—		—		—		(7,708)		—	—		—		(7,708)
March 31, 2020	39,112	$	39	1,618	$	2	$	431,836	$	700,021	$	(208,546)	8,409	$	(256,391)	$	2,600	$	669,561
Net income	—	—		—	—		—		32,354		—		—	—		95		32,449
Compensation and benefits paid or payable in shares	—	—		—	—		466		—		—		(15)	317		—		783
Options exercised	1	—		—	—		20		—		—		—	—		—		20
Shares issued to Directors	—	—		—	—		416		—		—		—	—		—		416
Dividends declared
Class A Common Stock, $0.19 per share	—	—		—	—		—		(5,835)		—		—	—		—		(5,835)
Class B Common Stock, $0.19 per share	—	—		—	—		—		(307)		—		—	—		—		(307)
Cumulative translation adjustments	—	—		—	—		—		—		8,964		—	—		152		9,116
Pension and postretirement liability adjustments	—	—		—	—		—		—		142		—	—		—		142
Derivative valuation adjustment	—	—		—	—		—		—		(187)		—	—		—		(187)
Three Months Ended June 30, 2020	39,113	$	39	1,618	$	2	$	432,738	$	726,233	$	(199,627)	8,394	$	(256,074)	$	2,847	$	706,158

The following table summarizes changes in Shareholders’ Equity for the period December 31, 2018 to June 30, 2019:

	Class A Common Stock			Class B Common Stock			Additional paid-in capital		Retained earnings		Accumulated items of other  comprehensive income		Class A Treasury Stock			Noncontrolling Interest		Total Equity
(in thousands)	Shares	Amount		Shares	Amount								Shares	Amount
December 31, 2018	37,450	$	37	3,234	$	3	$	430,555	$	589,645	$	(158,388)	8,419	$	(256,603)	$	3,031	$	608,280
Adoption of accounting standards (b)	—	—		—	—		—		35		—		—	—		—		35
Net income	—	—		—	—		—		29,190		—		—	—		218		29,408
Compensation and benefits paid or payable in shares	25	—		—	—		(547)		—		—		—	—		—		(547)
Options exercised	3				—		44		—		—		—	—		—		44
Shares issued to Directors	—	—		—	—		—		—		—		—	—		—		—
Dividends declared
Class A Common Stock, $0.18 per share	—	—		—	—		—		(5,231)		—		—	—		—		(5,231)
Class B Common Stock, $0.18 per share	—	—		—	—		—		(582)		—		—	—		—		(582)
Cumulative translation adjustments	—	—		—	—		—		—		(654)		—	—		(8)		(662)
Pension and postretirement liability adjustments	—	—		—	—		—		—		(1,487)		—	—		—		(1,487)
Derivative valuation adjustment	—	—		—	—		—		—		(2,851)		—	—		—		(2,851)
March 31, 2019	37,478	$	37	3,234	$	3	$	430,052	$	613,057	$	(163,380)	8,419	$	(256,603)	$	3,241	$	626,407
Net income	—	—		—	—		—		34,054		—		—	—		205		34,259
Compensation and benefits paid or payable in shares	—	—		—	—		958		—		—		(10)	212		—		1,170
Options exercised	2	—		—	—		28		—		—		—	—		—		28
Shares issued to Directors	—	—		—	—		—		—		—		—	—		—		—
Dividends declared
Class A Common Stock, $0.18 per share	—	—		—	—		—		(5,523)		—		—	—		—		(5,523)
Class B Common Stock, $0.18 per share	—	—		—	—		—		(291)		—		—	—		—		(291)
Conversion of Class B shares to Class A shares, rounding	1,616	2		(1,616)	(1)		(1)		—		—		—	—		—		—
Cumulative translation adjustments	—	—		—	—		—		—		(1)		—	—		2		1
Pension and postretirement liability adjustments	—	—		—	—		—		—		(40)		—	—		—		(40)
Derivative valuation adjustment	—	—		—	—		—		—		(4,695)		—	—		—		(4,695)
June 30, 2019	39,096	$	39	1,618	$	2	$	431,037	$	641,297	$	(168,116)	8,409	$	(256,391)	$	3,448	$	651,316

(a)As described in Note 1, the Company adopted the provisions of ASC 326, Current Expected Credit Losses (CECL) effective January 1, 2020, which resulted in a decrease to Retained earnings of $1.4 million.

(b)The Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million.