Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

v3.19.2
Shareholders' Equity
 6 Months Ended
Jun. 29, 2019
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Share Buyback Program
On February 24, 2016, the Company’s Board of Directors authorized the repurchase of up to $50 million of common stock (the “Buyback Program”). The Buyback Program allowed the Company to purchase shares of its common stock in accordance with applicable securities laws on the open market or through privately negotiated transactions. The Company has repurchased approximately 1,675,000 shares and has completed that program. On December 12, 2017, the Company’s Board of Directors authorized an additional repurchase of up to $50 million. No amounts have been repurchased under the new program as of June 29, 2019.
Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows: 
(In thousands) June 29, 2019 December 31, 2018
Foreign Currency Translation Adjustments $ (6,542) $ (7,156)
Retirement Liability Adjustment – Before Tax (7,442) (7,814)
Tax Benefit of Retirement Liability Adjustment 1,563  1,641 
Retirement Liability Adjustment – After Tax (5,879) (6,173)
Accumulated Other Comprehensive Loss $ (12,421) $ (13,329)
The components of other comprehensive income (loss) are as follows: 
Six Months Ended Three Months Ended
(In thousands) June 29, 2019 June 30, 2018 June 29, 2019 June 30, 2018
Foreign Currency Translation Adjustments $ 614  $ (1,572) $ 884  $ (1,805)
Retirement Liability Adjustments:
Reclassifications to General and Administrative Expense:
Amortization of Prior Service Cost
 201  202  100  101 
Amortization of Net Actuarial Losses
 171  343  86  172 
Tax Benefit
 (78) (115) (42) (58)
Retirement Liability Adjustment 294  430  144  215 
Other Comprehensive Income (Loss) $ 908  $ (1,142) $ 1,028  $ (1,590)