Shareholders' Equity

12 Months Ended

Dec. 31, 2012

Shareholders' Equity [Abstract]

Shareholders' Equity

18. Shareholders' Equity

We have two classes of Common Stock, Class A Common Stock and Class B Common Stock, each with a par value of $0.001 and equal liquidation rights. Each share of our Class A Common Stock is entitled to one vote on all matters submitted to shareholders, and each share of Class B Common Stock is entitled to ten votes. Class A and Class B Common Stock will receive equal dividends as the Board of Directors may determine from time to time. The Class B Common Stock is convertible into an equal number of shares of Class A Common Stock at any time. At December 31, 2012, 3.7 million shares of Class A Common Stock were reserved for the conversion of Class B Common Stock and the exercise of stock options.

In August 2006, we announced that the Board of Directors authorized management to purchase up to 2.0 million additional shares of our Class A Common Stock. The Board's action authorizes management to purchase shares from time to time, in the open market or otherwise, whenever it believes such purchase to be advantageous to our shareholders, and it is otherwise legally permitted to do so. We have made no share purchases under the August 2006 authorization. Activity in shareholders' equity for 2010, 2011, and 2012 is presented below:

							Accumulated items of other comprehensive income Amount
	Class A		Class B		Additional paid-in capital Amount	Retained earnings Amount		Treasury Stock
	Common Stock		Common Stock					Class A
(in thousands)	Shares	Amount	Shares	Amount				Shares	Amount
Balance: January 1, 2010	36,149	36	3,236	3	382,674	380,335	(82,136)	8,497	(258,299)
Compensation and benefits paid or payable in shares	286	-	-	-	4,659	-	-	-	-
Options exercised	7	-	-	-	576	-	-	-
Shares issued to Directors	-	-	-	-	(33)	-	-	(12)	268
Net income	-	-	-	-	-	37,636	-	-	-
Dividends declared	-	-	-	-	-	(14,923)	-	-	-
Cumulative translation adjustments	-	-	-	-	-	-	(10,208)	-	-
Pension and postretirement liability adjustments	-	-	-	-	-	-	(14,052)	-	-
Derivative valuation adjustment	-	-	-	-	-	-	(276)	-	-
Balance: December 31, 2010	36,442	$36	3,236	$3	$387,876	$403,048	($106,672)	8,485	($258,031)
Compensation and benefits paid or payable in shares	57	1	-	-	2,712	-	-	-	-
Options exercised	42	-	-	-	883	-	-	-
Shares issued to Directors	-	-	-	-	24	-	-	(5)	111
Net income	-	-	-	-	-	34,938	-	-	-
Dividends declared	-	-	-	-	-	(15,942)	-	-	-
Cumulative translation adjustments	-	-	-	-	-	-	(13,070)	-	-
Pension and postretirement liability adjustments	-	-	-	-	-	-	(17,749)	-	-
Derivative valuation adjustment	-	-	-	-	-	-	(2,318)	-	-
Balance: December 31, 2011	36,541	$37	3,236	$3	$391,495	$422,044	($139,809)	8,480	($257,920)
Compensation and benefits paid or payable in shares	34	-	-	-	2,573	-	-	-	-
Options exercised	67	-	-	-	1,352	-	-	-
Shares issued to Directors	-	-	-	-	(39)	-	-	(12)	256
Net income	-	-	-	-	-	30,977	-	-	-
Dividends declared	-	-	-	-	-	(17,246)	-	-	-
Cumulative translation adjustments	-	-	-	-	-	-	11,452	-	-
Settlement of certain pension plan liabilities	-	-	-	-	-	-	79,204	-	-
Pension and postretirement liability adjustments	-	-	-	-	-	-	(30,584)	-	-
Derivative valuation adjustment	-	-	-	-	-	-	(284)	-	-
Balance: December 31, 2012	36,642	$37	3,236	$3	$ 395,381	$435,775	($80,021)	8,468	($257,664)