STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

STOCKHOLDERS' EQUITY

Components of accumulated other comprehensive income

	March 31		December 31
	2023		2022
	(in thousands)
Pre-tax amounts:
Unrecognized net periodic benefit credit	$	8,954	$	9,287
Interest rate swap		2,913		3,526
Foreign currency translation		(3,271)		(3,247)
Total	$	8,596	$	9,566
After-tax amounts:
Unrecognized net periodic benefit credit	$	6,649	$	6,896
Interest rate swap		2,152		2,604
Foreign currency translation		(2,415)		(2,397)
Total	$	6,386	$	7,103

Summary of changes in accumulated other comprehensive income, net of tax, by component

			Unrecognized		Interest		Foreign
			Net Periodic		Rate		Currency
	Total		Benefit Credit		Swap		Translation
	(in thousands)
Balances at December 31, 2022	$	7,103	$	6,896	$	2,604	$	(2,397)
Other comprehensive loss before reclassifications		(470)		—		(452)		(18)
Amounts reclassified from accumulated other comprehensive income		(247)		(247)		—		—
Net current-period other comprehensive loss		(717)		(247)		(452)		(18)
Balances at March 31, 2023	$	6,386	$	6,649	$	2,152	$	(2,415)
Balances at December 31, 2021	$	3,699	$	4,160	$	309	$	(770)
Other comprehensive income before reclassifications		1,765		—		1,458		307
Amounts reclassified from accumulated other comprehensive income		(141)		(141)		—		—
Net current-period other comprehensive income (loss)		1,624		(141)		1,458		307
Balances at March 31, 2022	$	5,323	$	4,019	$	1,767	$	(463)

Summary of the significant reclassifications out of accumulated other comprehensive income (loss) by component

	Unrecognized Net Periodic
	Benefit Credit(1)(2)
	Three Months Ended March 31
	2023		2022
	(in thousands)
Amortization of net actuarial gain, pre-tax	$	333	$	189
Tax expense		(86)		(48)
Total, net of tax	$	247	$	141

(1) Amounts in parentheses indicate increases in expense or loss.

(2) These components of accumulated other comprehensive income are included in the computation of net periodic benefit cost of the Company’s supplemental benefit plan (“SBP”) and postretirement health benefit plan.

Summary of dividends declared

	2023				2022
	Per Share		Amount		Per Share		Amount
	(in thousands, except per share data)
First quarter	$	0.12	$	2,915	$	0.08	$	1,978