Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

v3.20.2
Shareholders' Equity
 6 Months Ended
Jun. 27, 2020
Equity [Abstract]  
Shareholders' Equity Shareholders' Equity
Share Buyback Program
The Company’s Board of Directors from time to time authorizes the repurchase of common stock, which allows the Company to purchase shares of its common stock in accordance with applicable securities laws on the open market or through privately negotiated transactions. Most recently, on September 17, 2019, the Company’s Board of Directors authorized a repurchase of up to $50 million. Approximately 282,000 shares were repurchased in the first quarter of 2020 at a cost of $7.7 million before the 10b5-1 plan associated with the share repurchase program was terminated on February 3, 2020.
Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows: 
(In thousands) June 27, 2020 December 31, 2019
Foreign Currency Translation Adjustments $ (8,536)   $ (7,042)  
Retirement Liability Adjustment – Before Tax (10,323)   (10,868)  
Tax Benefit of Retirement Liability Adjustment 2,167    2,282   
Retirement Liability Adjustment – After Tax (8,156)   (8,586)  
Accumulated Other Comprehensive Loss $ (16,692)   $ (15,628)  
The components of other comprehensive (loss) income are as follows: 
Six Months Ended Three Months Ended
(In thousands) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Foreign Currency Translation Adjustments $ (1,494)   $ 614    $ 810    $ 884   
Retirement Liability Adjustments:
Reclassifications to General and Administrative Expense:
Amortization of Prior Service Cost
 201    201    100    100   
Amortization of Net Actuarial Losses
 344    171    173    86   
Tax Benefit
 (115)   (78)   (58)   (42)  
Retirement Liability Adjustment 430    294    215    144   
Other Comprehensive (Loss) Income $ (1,064)   $ 908    $ 1,025    $ 1,028