v3.26.1
Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity

9. EQUITY

Treasury Stock

During the three and six months ended June 30, 2026, we distributed 50,544 and 55,214 shares, respectively, of treasury stock upon vesting of stock-based awards. During the three and six months ended June 30, 2026, we repurchased 214,712 and 266,493 shares, respectively, of our common stock for $2.7 million and $3.6 million, respectively. The total repurchased shares include rights which were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participant’s tax burdens resulting from the issuance of common stock under the plan. Rights surrendered to us were 784 and 2,479 shares valued at $11 thousand and $40 thousand for the three and six months ended June 30, 2026, respectively. Such shares of common stock, unless canceled, may be reissued for a variety of purposes such as future acquisitions, non-employee director stock awards or employee stock awards.

Dividend Policy

In March and June 2026, we paid a quarterly cash dividend of $0.01 per share of common stock. In addition, on July 29, 2026, we declared a quarterly cash dividend of $0.01 per share of common stock for shareholders of record on August 10, 2026, and payable on August 31, 2026.

Accumulated Other Comprehensive Income (Loss)

Amounts recognized, net of income tax, in accumulated other comprehensive income (loss) consist of the following (in thousands):

 

 

June 30,
2026

 

 

December 31,
2025

 

Pension and other post-retirement benefit plans - unrecognized prior service costs and net actuarial loss

 

$

(5,385

)

 

$

(5,499

)

Interest rate swaps - net gain (loss) on fair value

 

 

(293

)

 

 

(307

)

Total accumulated other comprehensive income (loss)

 

$

(5,678

)

 

$

(5,806

)

Retained Earnings

The beginning balances of retained earnings and total equity for the three and six months ended June 30, 2025 have been adjusted for certain prior period immaterial corrections. See Note 2 - Summary of Significant Accounting Policies Update.