| Changes in Shareholders’ Equity |
Changes in Shareholders’ Equity The following tables summarize changes in Shareholders’ Equity for the three and six month periods ended June 30, 2026:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class A Common Stock | | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity | | Shares | Amount | | | Shares | Amount | | March 31, 2026 | 41,041 | | 41 | | | | 460,629 | | 983,704 | | (147,834) | | 12,686 | | (567,139) | | 6,014 | | 735,415 | | | Net income | — | | — | | | | — | | 17,414 | | — | | — | | — | | 290 | | 17,704 | | | Stock issued under incentive compensation plans | 1 | | — | | | | — | | — | | — | | — | | — | | — | | — | | | Taxes paid in lieu of share issuance | — | | — | | | | (30) | | — | | — | | — | | — | | — | | (30) | | | Stock-based compensation | — | | — | | | | 2,667 | | — | | — | | — | | — | | — | | 2,667 | | | Shares issued to Directors | 15 | | — | | | | 882 | | — | | — | | — | | — | | — | | 882 | | | Purchase of Treasury shares | — | | — | | | | — | | — | | — | | — | | — | | — | | — | | | Share repurchase excise tax adjustment | — | | — | | | | — | | — | | — | | — | | 146 | | — | | 146 | | Dividends declared on Class A Common Stock, $0.28 per share | — | | — | | | | — | | (7,944) | | — | | — | | — | | — | | (7,944) | | | Dividends paid to noncontrolling interests | — | | — | | | | — | | — | | — | | — | | — | | — | | — | | | Cumulative translation adjustments | — | | — | | | | — | | | 2,471 | | — | | — | | 96 | | 2,567 | | | Pension and postretirement liability adjustments | — | | — | | | | — | | | 262 | | — | | — | | — | | 262 | | | Derivative valuation adjustment and other | — | | — | | | | — | | (4) | | 424 | | — | | — | | — | | 420 | | | June 30, 2026 | 41,057 | | 41 | | | | 464,148 | | 993,170 | | (144,677) | | 12,686 | | (566,993) | | 6,400 | | 752,089 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class A Common Stock | | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity | | Shares | Amount | | | Shares | Amount | | December 31, 2025 | 40,989 | | $ | 41 | | | | $ | 460,472 | | $ | 976,373 | | $ | (143,538) | | 12,686 | | $ | (567,139) | | $ | 5,893 | | $ | 732,102 | | | Net income | — | | — | | | | — | | 32,695 | | — | | — | | — | | 458 | | 33,153 | | | Stock issued under incentive compensation plans | 53 | | — | | | | — | | — | | — | | — | | — | | — | | — | | | Taxes paid in lieu of share issuance | — | | — | | | | (1,333) | | — | | — | | — | | — | | — | | (1,333) | | | Stock-based compensation | — | | — | | | | 4,127 | | — | | — | | — | | — | | — | | 4,127 | | | Shares issued to Directors | 15 | | — | | | | 882 | | — | | — | | — | | — | | — | | 882 | | | Share repurchase excise tax adjustment | — | | — | | | | — | | — | | — | | — | | 146 | | — | | 146 | | Dividends declared on Class A Common Stock, $0.56 per share | — | | — | | | | — | | (15,883) | | — | | — | | — | | — | | (15,883) | | | Cumulative translation adjustments | — | | — | | | | — | | — | | (2,735) | | — | | — | | 49 | | (2,686) | | | Pension and postretirement liability adjustments | — | | — | | | | — | | — | | 846 | | — | | — | | — | | 846 | | | Derivative valuation adjustment and other | — | | — | | | | — | | (15) | | 750 | | — | | — | | — | | 735 | | | June 30, 2026 | 41,057 | | $ | 41 | | | | $ | 464,148 | | $ | 993,170 | | $ | (144,677) | | 12,686 | | $ | (566,993) | | $ | 6,400 | | $ | 752,089 | |
The following tables summarize changes in Shareholders’ Equity for the three month and six month periods ended June 30, 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class A Common Stock | | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity | (in thousands) | Shares | Amount | | | Shares | Amount | | March 31, 2025 | 40,973 | | $ | 41 | | | | $ | 455,584 | | $ | 1,074,863 | | $ | (182,150) | | 10,770 | | $ | (448,363) | | $ | 5,193 | | $ | 905,168 | | | Net income | — | | — | | | | | 9,183 | | — | | — | | — | | 149 | | 9,332 | | | Compensation and benefits paid or payable in shares | — | | — | | | | 243 | | — | | — | | — | | — | | — | | 243 | | | Shares issued to Directors' | 11 | | — | | | | 760 | | — | | — | | — | | — | | — | | 760 | | | Purchase of Treasury shares (a) | — | | — | | | | — | | — | | — | | 746 | | (51,295) | | — | | (51,295) | | Dividends declared on Class A Common Stock, $0.27 per share | — | | — | | | | — | | (8,024) | | — | | — | | — | | — | | (8,024) | | | Cumulative translation adjustments | — | | — | | | | — | | | 38,835 | | — | | — | | 67 | | 38,902 | | | Pension and postretirement liability adjustments | — | | — | | | | — | | | (855) | | — | | — | | — | | (855) | | | Derivative valuation adjustment and other | — | | — | | | | — | | (88) | | (122) | | — | | — | | 88 | | (122) | | | June 30, 2025 | 40,984 | | $ | 41 | | | | $ | 456,587 | | $ | 1,075,934 | | $ | (144,292) | | 11,516 | | $ | (499,658) | | $ | 5,497 | | $ | 894,109 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Class A Common Stock | | Additional paid-in capital | Retained earnings | Accumulated items of other comprehensive income | Class A Treasury Stock | Noncontrolling Interest | Total Shareholders' Equity | (in thousands) | Shares | Amount | | | Shares | Amount | | December 31, 2024 | 40,917 | | $ | 41 | | | | $ | 452,933 | | $ | 1,065,763 | | $ | (195,989) | | 9,845 | | $ | (379,210) | | $ | 5,409 | | $ | 948,947 | | | Net income/(loss) | — | | — | | | | — | | 26,538 | | — | | — | | — | | 143 | | 26,681 | | | Compensation and benefits paid or payable in shares | 56 | | — | | | | 2,894 | | — | | — | | — | | — | | — | | 2,894 | | | Shares issued to Directors | 11 | | — | | | | 760 | | — | | — | | — | | — | | — | | 760 | | | Purchase of Treasury shares (a) | — | | — | | | | — | | — | | — | | 1,671 | | (120,448) | | — | | (120,448) | | Dividends declared on Class A Common Stock, $0.54 per share | — | | — | | | | — | | (16,286) | | — | | — | | — | | — | | (16,286) | | | Dividends paid to noncontrolling interests | — | | — | | | | — | | — | | — | | — | | — | | (88) | | (88) | | | Cumulative translation adjustments | — | | — | | | | — | | — | | 55,971 | | — | | — | | (55) | | 55,916 | | | Pension and postretirement liability adjustments | — | | — | | | | — | | — | | (3,517) | | — | | — | | — | | (3,517) | | | Derivative valuation adjustment | — | | — | | | | — | | (81) | | (757) | | — | | — | | 88 | | (750) | | | June 30, 2025 | 40,984 | | $ | 41 | | | | $ | 456,587 | | $ | 1,075,934 | | $ | (144,292) | | 11,516 | | $ | (499,658) | | $ | 5,497 | | $ | 894,109 | | | | | | | | | | | | | |
(a)On February 21, 2025, the Company's Board of Directors authorized the Company to repurchase shares up to $250 million (excluding any fees, commissions, taxes or other expenses related to such purchases), which replaces the 2021 authorization.
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