Changes in Shareholders' Equity

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

Changes in Shareholders' Equity

18. Changes in Shareholders’ Equity

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

(in thousands, except per share amounts)	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, 2018	$40	$430,555	$589,645	($158,388)	($256,603)	$3,031	$608,280
Adoption of accounting standards (a)	-	-	35	-	-	-	35
Net income	-	-	29,190	-	-	218	29,408
Compensation and benefits paid or payable in shares	-	(547)	-	-	-	-	(547)
Options exercised	-	44	-	-	-	-	44
Dividends declared:
Class A Common Stock, $0.18 per share	-	-	(5,813)	-	-	-	(5,813)
Class B Common Stock, $0.18 per share	-	-	-	-	-	-	-
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	$40	$430,052	$613,057	($163,380)	($256,603)	$3,241	$626,407

The following table summarizes changes in Shareholders’ Equity for the period December 31, 2017 to March 31, 2018:

(in thousands, except per share amounts)	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 (b),(c)	-	-	(5,068)	-	-	(327)	(5,395)
Net income	-	-	7,662	-	-	237	7,899
Compensation and benefits paid or payable in shares	-	289	-	-	-	-	289
Options exercised	-	147	-	-	-	-	147
Dividends declared:
Class A Common Stock, $0.17 per share	-	-	(5,483)	-	-	-	(5,483)
Class B Common Stock, $0.17 per share	-	-	-	-	-	-	-
Cumulative translation adjustments	-	-	-	17,646	-	(7)	17,639
Pension and postretirement liability adjustments	-	-	-	(13)	-	-	(13)
Derivative valuation adjustment	-	-	-	4,480	-	-	4,480
March 31, 2018	$40	$428,859	$531,193	($113,788)	($256,876)	$3,150	$592,578

(a)	As described in Note 3, the Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million.
(b)	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.
(c)	The Company adopted ASU 2016-16 effective January 1, 2018, which resulted in a $0.5 million increase to Retained earnings.