Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

v3.19.3
Shareholders' Equity
 9 Months Ended
Sep. 28, 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. The Company has repurchased approximately 1,823,000 shares and has completed that program in the third quarter of 2019. On September 17, 2019, 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 September 28, 2019.
Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows: 
(In thousands) September 28, 2019 December 31, 2018
Foreign Currency Translation Adjustments $ (7,878)   $ (7,156)  
Retirement Liability Adjustment – Before Tax (7,256)   (7,814)  
Tax Benefit of Retirement Liability Adjustment 1,524    1,641   
Retirement Liability Adjustment – After Tax (5,732)   (6,173)  
Accumulated Other Comprehensive Loss $ (13,610)   $ (13,329)  
The components of other comprehensive income (loss) are as follows: 
Nine Months Ended Three Months Ended
(In thousands) September 28, 2019 September 29, 2018 September 28, 2019 September 29, 2018
Foreign Currency Translation Adjustments $ (722)   $ (1,346)   $ (1,336)   $ 226   
Retirement Liability Adjustments:
Reclassifications to General and Administrative Expense:
Amortization of Prior Service Cost
 302    303    101    101   
Amortization of Net Actuarial Losses
 256    515    85    172   
Tax Benefit
 (117)   (172)   (39)   (57)  
Retirement Liability Adjustment 441    646    147    216   
Other Comprehensive Income (Loss) $ (281)   $ (700)   $ (1,189)   $ 442