OTHER

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER

OTHER

Cash dividends

Dividends declared in the six months ended June 30, 2021 were as follows:

Dividend per share	Date declared	Date of record	Payment date
$0.0425	3/9/2021	5/3/2021	5/17/2021
$0.0425	6/24/2021	8/2/2021	8/16/2021

During the six months ended June 30, 2021, the Company paid dividends of $2.0 million. This included payments made on February 12, 2021 and May 17, 2021 of $0.9 million and $0.9 million to shareholders of record on January 29, 2021 and May 3, 2021, respectively, and payments of $0.2 million for dividends payable upon the vesting of restricted shares and performance shares.

In the three months ended June 30, 2021, the Company reduced retained earnings for the accrual of $0.9 million relating to the dividend payable on August 16, 2021. For the six months ended June 30, 2021, the Company reduced retained earnings for the accrual of $1.9 million relating to the dividend payable on May 17, 2021 and August 16, 2021.

On August 3, 2021, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on November 15, 2021 to shareholders of record on November 1, 2021.

Supplemental cash flow information

	Six Months Ended June 30,
	2021		2020
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	6,896	$	8,070
Cash paid for taxes, net of refunds	10,793		173
Non-cash investing activities:
Translation gain (loss) adjustment	$	2,181	$	(7,207)

Components of accumulated other comprehensive loss, net

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(34,017)	$	(38,477)	$	(35,846)	$	(34,019)
Translation income (loss) during period	352		(2,749)		2,181		(7,207)
Amounts reclassified from accumulated other comprehensive loss (1)	2,042		235		2,042		235
Translation Adjustment	2,394		(2,514)		4,223		(6,972)
Balance at end of period	$	(31,623)	$	(40,991)	$	(31,623)	$	(40,991)
Accumulated deferred losses on cash flow hedges:
Balance at beginning of period	$	(1,298)	$	(1,713)	$	(1,125)	$	1,164
Change in unrealized losses	(229)		(139)		(783)		(3,135)
Amounts reclassified from accumulated other comprehensive loss:
Settlement of cash flow hedge (2)	465		240		846		359
Net change in cash flow hedges, net of taxes of $73, $69, $54, $(929)	236		101		63		(2,776)
Balance at end of period	$	(1,062)	$	(1,612)	$	(1,062)	$	(1,612)
Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(2,174)	$	(1,580)	$	(2,201)	$	(1,600)
Amounts reclassified from accumulated other comprehensive loss: (3)
Amortization of actuarial loss, net of taxes	41		19		68		39
Balance at end of period	$	(2,133)	$	(1,561)	$	(2,133)	$	(1,561)
Total accumulated other comprehensive loss at end of period	$	(34,818)	$	(44,164)	$	(34,818)	$	(44,164)

(1)Amounts are recorded in equity in earnings (losses) on the unaudited condensed statements of operations.

(2)Amounts reclassified are recorded in interest expense and cost of sales on the unaudited condensed consolidated statement of operations.