NOTE G – STOCKHOLDERS’ EQUITY Accumulated Other Comprehensive Loss Components of accumulated other comprehensive loss were as follows: | | | | | | | | | | June 30 | | December 31 | | | | 2026 | | 2025 | | | | | (in thousands) | | Pre-tax amounts: | | | | | | | | Unrecognized net periodic benefit credit | | $ | 3,822 | | $ | 4,126 | | Foreign currency translation | | | (5,100) | | | (4,717) | | | | | | | | | | Total | | $ | (1,278) | | $ | (591) | | | | | | | | | | After-tax amounts: | | | | | | | | Unrecognized net periodic benefit credit | | $ | 2,838 | | $ | 3,064 | | Foreign currency translation | | | (3,787) | | | (3,503) | | | | | | | | | | Total | | $ | (949) | | $ | (439) | |
The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component: | | | | | | | | | | | | | | | | Unrecognized | | Foreign | | | | | | | Net Periodic | | Currency | | | | Total | | Benefit Credit | | Translation | | | | | (in thousands) | | Balances at December 31, 2025 | | $ | (439) | | $ | 3,064 | | $ | (3,503) | | | | | | | | | | | | | Other comprehensive loss before reclassifications | | | (284) | | | — | | | (284) | | Amounts reclassified from accumulated other comprehensive income (loss) | | | (226) | | | (226) | | | — | | Net current-period other comprehensive income | | | (510) | | | (226) | | | (284) | | | | | | | | | | | | | Balances at June 30, 2026 | | $ | (949) | | $ | 2,838 | | $ | (3,787) | | | | | | | | | | | | | Balances at December 31, 2024 | | $ | 272 | | $ | 4,203 | | $ | (3,931) | | | | | | | | | | | | | Other comprehensive income before reclassifications | | | 492 | | | — | | | 492 | | Amounts reclassified from accumulated other comprehensive income | | | (312) | | | (312) | | | — | | Net current-period other comprehensive income (loss) | | | 180 | | | (312) | | | 492 | | | | | | | | | | | | | Balances at June 30, 2025 | | $ | 452 | | $ | 3,891 | | $ | (3,439) | |
The following is a summary of the reclassifications out of accumulated other comprehensive income by component: | | | | | | | | | | Unrecognized Net Periodic | | | | Benefit Credit | | | | Six Months Ended June 30 | | | | 2026 | | 2025 | | | | | (in thousands) | | Amortization of net actuarial gain(1) | | $ | 304 | | $ | 420 | | Tax expense | | | (78) | | | (108) | | Total, net of tax | | $ | 226 | | $ | 312 | |
| (1) | Included in the computation of net periodic benefit credit are amounts related to the Company’s postretirement health benefit plan for the six months ended June 30, 2026 and 2025, and the Company’s supplemental benefit plan for the six months ended June 30, 2026. |
Dividends on Common Stock The following table is a summary of dividends declared during the applicable quarter: | | | | | | | | | | | | | | | | 2026 | | 2025 | | | | Per Share | | Amount | | Per Share | | Amount | | | | | (in thousands, except per share data) | | First quarter | | $ | 0.12 | | $ | 2,679 | | $ | 0.12 | | $ | 2,785 | | Second quarter | | $ | 0.12 | | $ | 2,686 | | $ | 0.12 | | $ | 2,758 | |
On July 24, 2026, the Company announced its Board of Directors declared a dividend of $0.12 per share to stockholders of record as of August 7, 2026. Treasury Stock The Company has a program to repurchase its common stock in the open market or in privately negotiated transactions (the “share repurchase program”). The share repurchase program has no expiration date but may be terminated at any time at the Board of Directors’ discretion. Repurchases may be made using the Company’s cash reserves or other available sources. As of December 31, 2025, the Company had $104.7 million available for repurchases of its common stock under the share repurchase program. During the six months ended June 30, 2026, the Company repurchased 92,488 shares for an aggregate cost of $8.2 million under the share repurchase program. The Company had $96.5 million remaining under its share repurchase program as of June 30, 2026.
|