| Stockholders' Equity |
NOTE 9 – STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Loss Accumulated other comprehensive loss as of June 30, 2025 and 2024 included the following:
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Three Months Ended June 30, 2025 |
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|
Foreign
Currency
Translation
Adjustments |
|
|
Change in
Fair Value of
Interest Rate
Hedge
Agreements |
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|
Total |
|
Accumulated other comprehensive (loss) income at March 31, 2025 |
|
$ |
(17,204 |
) |
|
$ |
(1,255 |
) |
|
$ |
(18,459 |
) |
Current period other comprehensive (loss) income: |
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|
|
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Other comprehensive (loss) income before reclassifications |
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|
6,818 |
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|
|
(836 |
) |
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|
5,982 |
|
Amounts reclassified from accumulated other comprehensive (loss) income (1) |
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|
— |
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|
|
(189 |
) |
|
|
(189 |
) |
Effect of taxes |
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|
— |
|
|
|
365 |
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|
|
365 |
|
Total current period other comprehensive (loss) income |
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|
6,818 |
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|
|
(660 |
) |
|
|
6,158 |
|
Accumulated other comprehensive (loss) income at June 30, 2025 |
|
$ |
(10,386 |
) |
|
$ |
(1,915 |
) |
|
$ |
(12,301 |
) |
(1) The Company expects to reclassify approximately $0.2 million of unrealized losses related to the Change in Fair Value of Interest Rate Hedge Agreements from accumulated other comprehensive (loss) income into earnings during the next 12 months.
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Three Months Ended June 30, 2024 |
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|
Foreign
Currency
Translation
Adjustments |
|
|
Change in
Fair Value of
Interest Rate
Hedge
Agreement and Other Adjustments |
|
|
Total |
|
Accumulated other comprehensive (loss) income at March 31, 2024 |
|
$ |
(14,117 |
) |
|
$ |
2,916 |
|
|
$ |
(11,201 |
) |
Current period other comprehensive (loss) income: |
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|
|
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Other comprehensive (loss) income before reclassifications |
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|
(334 |
) |
|
|
1,671 |
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|
1,337 |
|
Amounts reclassified from accumulated other comprehensive (loss) income |
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|
— |
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|
|
(1,661 |
) |
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|
(1,661 |
) |
Effect of taxes |
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|
(12 |
) |
|
|
(7 |
) |
|
|
(19 |
) |
Total current period other comprehensive (loss) income |
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|
(346 |
) |
|
|
3 |
|
|
|
(343 |
) |
Accumulated other comprehensive (loss) income at June 30, 2024 |
|
$ |
(14,463 |
) |
|
$ |
2,919 |
|
|
$ |
(11,544 |
) |
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|
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|
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|
|
|
|
|
|
Six Months Ended June 30, 2025 |
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|
|
Foreign
Currency
Translation
Adjustments |
|
|
Change in
Fair Value of
Interest Rate
Hedge
Agreements |
|
|
Total |
|
Accumulated other comprehensive (loss) income at December 31, 2024 |
|
$ |
(16,383 |
) |
|
$ |
637 |
|
|
$ |
(15,746 |
) |
Current period other comprehensive (loss) income: |
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Other comprehensive (loss) income before reclassifications |
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10,091 |
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(2,690 |
) |
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|
7,401 |
|
Amounts reclassified from accumulated other comprehensive (loss) income (1) |
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|
(4,094 |
) |
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|
(880 |
) |
|
|
(4,974 |
) |
Effect of taxes |
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|
— |
|
|
|
1,018 |
|
|
|
1,018 |
|
Total current period other comprehensive (loss) income |
|
|
5,997 |
|
|
|
(2,552 |
) |
|
|
3,445 |
|
Accumulated other comprehensive (loss) income at June 30, 2025 |
|
$ |
(10,386 |
) |
|
$ |
(1,915 |
) |
|
$ |
(12,301 |
) |
(1) During the first quarter of 2025, the Company reclassified $4.1 million of effect of taxes related to Foreign Currency Translation Adjustments from accumulated other comprehensive (loss) income into earnings in connection with IRC 987. See “Note 8 – Income Taxes”.
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Six Months Ended June 30, 2024 |
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|
|
Foreign
Currency
Translation
Adjustments |
|
|
Change in
Fair Value of
Interest Rate
Hedge
Agreement and Other Adjustments |
|
|
Total |
|
Accumulated other comprehensive (loss) income at December 31, 2023 |
|
$ |
(12,695 |
) |
|
$ |
810 |
|
|
$ |
(11,885 |
) |
Current period other comprehensive (loss) income: |
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Other comprehensive (loss) income before reclassifications |
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(1,868 |
) |
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|
6,260 |
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|
4,392 |
|
Amounts reclassified from accumulated other comprehensive (loss) income |
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|
— |
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|
|
(3,332 |
) |
|
|
(3,332 |
) |
Effect of taxes |
|
|
100 |
|
|
|
(819 |
) |
|
|
(719 |
) |
Total current period other comprehensive (loss) income |
|
|
(1,768 |
) |
|
|
2,109 |
|
|
|
341 |
|
Accumulated other comprehensive (loss) income at June 30, 2024 |
|
$ |
(14,463 |
) |
|
$ |
2,919 |
|
|
$ |
(11,544 |
) |
Share Repurchases The Company repurchases shares under the $300.0 million share repurchase program authorized by the Company’s board of directors. In addition, the Company repurchases shares in connection with the vesting of restricted stock units (“RSUs”) and performance share awards (“PSAs”) granted to employees. Repurchases for the three and six months ended June 30, 2025 and 2024 are as follows:
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Three Months Ended June 30, |
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2025 |
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2024 |
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Shares |
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Amount Paid |
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|
Shares |
|
Amount Paid |
|
Share Repurchase Program |
|
31,339 |
|
$ |
2,491 |
|
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|
18,183 |
|
$ |
2,687 |
|
Vesting of RSUs |
|
34 |
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|
3 |
|
|
|
150 |
|
|
24 |
|
Total |
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31,373 |
|
$ |
2,494 |
|
|
|
18,333 |
|
$ |
2,711 |
|
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Six Months Ended June 30, |
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|
2025 |
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|
2024 |
|
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Shares |
|
Amount Paid |
|
|
Shares |
|
Amount Paid |
|
Share Repurchase Program |
|
344,387 |
|
$ |
37,543 |
|
|
|
191,000 |
|
$ |
26,519 |
|
Vesting of RSUs and PSAs |
|
42,844 |
|
|
4,294 |
|
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|
46,031 |
|
|
6,667 |
|
Total |
|
387,231 |
|
$ |
41,837 |
|
|
|
237,031 |
|
$ |
33,186 |
|
|