Common Stock and Accumulated Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Common Stock and Accumulated Other Comprehensive Income (Loss)

17.COMMON STOCK AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

On July 30, 2018, we closed a public offering of 4,025,000 shares of common stock and received proceeds of approximately $205.0 million, which is net of approximately $12.0 million in underwriting discounts and commissions and approximately $366,000 in other direct cost incurred in connection with this equity offering. The net proceeds from the offering were used primarily to repay outstanding borrowings (principally revolving credit loans) under our Second Amended Credit Agreement.

The changes in each component of Accumulated Other Comprehensive Income (Loss) for the years ended December 31, 2020, 2019 and 2018 were as follows (in thousands):

	Cash Flow Hedges		Foreign Currency Translation		Total
December 31, 2017	$	3,474	$	(1,940)	$	1,534
Other comprehensive income (loss)		2,098		(3,606)		(1,508)
Income taxes		(16)		(9)		(25)
Reclassifications to:
Revenue		(136)				(136)
Cost of sales		(361)				(361)
Interest expense		(1,537)				(1,537)
Net other comprehensive income (loss)		48		(3,615)		(3,567)
December 31, 2018		3,522		(5,555)		(2,033)
Other comprehensive income (loss)		(3,417)		(18)		(3,435)
Income taxes		1,404		61		1,465
Reclassifications to:
Revenue		(577)				(577)
Cost of sales		578				578
Interest expense		(2,040)				(2,040)
Net other comprehensive income (loss)		(4,052)		43		(4,009)
Reclassification of stranded tax effects 1		748				748
December 31, 2019		218		(5,512)		(5,294)
Other comprehensive income (loss)		(11,647)		7,786		(3,861)
Income taxes		2,365		(786)		1,579
Reclassifications to:
Revenue		(36)				(36)
Cost of sales		1,288				1,288
Interest expense		872				872
Net other comprehensive income (loss)		(7,158)		7,000		(158)
December 31, 2020	$	(6,940)	$	1,488	$	(5,452)

(1) Amounts reclassified to retained earnings as a result of the adoption of ASU 2018-02.