Changes in Shareholders' Equity

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Note [Abstract]

Changes in Shareholders' Equity

18. Changes in Shareholders’ Equity

The following table summarizes changes in Shareholders’ Equity:

(in thousands)	Common Stock Class A and B	Additional paid in capital	Retained earnings	Accumulated items of other comprehensive income/(loss)	Treasury stock	Noncontrolling Interest	Total Equity
December 31, 2017	$40	$428,423	$534,082	($135,901)	($256,876)	$3,247	$573,015
Adoption of accounting standards (a),(b)	-	-	(5,086)	-	-	(327)	(5,413)
Net income	-	-	68,825	-	-	447	69,272
Compensation and benefits paid or payable in shares	-	1,606	-	-	273	-	1,879
Options exercised	-	202				-	202
Dividends declared	-	-	(16,452)	-	-	-	(16,452)
Cumulative translation adjustments	-	-	-	(23,582)	-	(1)	(23,583)
Pension and postretirement liability adjustments	-	-	-	2,243	-	-	2,243
Derivative valuation adjustment	-	-	-	7,479	-	-	7,479
September 30, 2018	$40	$430,231	$581,369	($149,761)	($256,603)	$3,366	$608,642

(a)	As described in Note 2, the Company adopted ASC 606 effective January 1, 2018, which resulted in a decrease to Retained earnings of $5.6 million and a $0.3 million decrease to Noncontrolling interest.
(b)	As described in Note 7, the Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings.