Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity

v3.20.2
Shareholders' Equity
 9 Months Ended
Sep. 26, 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) September 26, 2020 December 31, 2019
Foreign Currency Translation Adjustments $ (7,127) $ (7,042)
Retirement Liability Adjustment – Before Tax (10,051) (10,868)
Tax Benefit of Retirement Liability Adjustment 2,110  2,282 
Retirement Liability Adjustment – After Tax (7,941) (8,586)
Accumulated Other Comprehensive Loss $ (15,068) $ (15,628)
The components of other comprehensive (loss) income are as follows: 
Nine Months Ended Three Months Ended
(In thousands) September 26, 2020 September 28, 2019 September 26, 2020 September 28, 2019
Foreign Currency Translation Adjustments $ (85) $ (722) $ 1,409  $ (1,336)
Retirement Liability Adjustments:
Reclassifications to General and Administrative Expense:
Amortization of Prior Service Cost
 302  302  101  101 
Amortization of Net Actuarial Losses
 515  256  171  85 
Tax Benefit
 (172) (117) (57) (39)
Retirement Liability Adjustment 645  441  215  147 
Other Comprehensive (Loss) Income $ 560  $ (281) $ 1,624  $ (1,189)