Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.20.1
Stockholders' Equity
3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
In October 2018, our board of directors approved a new share repurchase program authorizing the repurchase of up to $100.0 million of our outstanding common stock. The share purchase program expired on October 25, 2019. In November 2019, our board of directors approved a new share repurchase program authorizing the repurchase of up to $100.0 million of our outstanding common stock. The share repurchase program is effective through November 7, 2020. Shares repurchased under the plan are retired. There was no repurchase activity during the three months ended March 31, 2020 and 2019.
Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss (AOCI) by component for the three months ended March 31, 2020 and 2019 were as follows:
 
 
Unrealized (Loss) Gain on Derivative Instruments, Net of Tax
 
Foreign Currency Translation Adjustments
 
Total
 
 
(in thousands)
Balance at January 1, 2019(1)
 
$
249

 
$
(716
)
 
$
(467
)
Other comprehensive loss before reclassifications
 
(586
)
 
(99
)
 
(685
)
Amounts reclassified from AOCI
 
(220
)
 

 
(220
)
Net current period other comprehensive loss
 
(806
)
 
(99
)
 
(905
)
Balance at March 31, 2019
 
(557
)
 
(815
)
 
(1,372
)
 
 
 
 
 
 


Balance at January 1, 2020
 
(1,461
)
 
(887
)
 
(2,348
)
Other comprehensive loss before reclassifications
 
(3,549
)
 
(505
)
 
(4,054
)
Amounts reclassified from AOCI
 
134

 

 
134

Net current period other comprehensive loss
 
(3,415
)
 
(505
)
 
(3,920
)
Balance at March 31, 2020
 
$
(4,876
)
 
$
(1,392
)
 
$
(6,268
)
(1)Reflects the cumulative effective of adopting ASU 2017-12 in the prior period.
The loss on our derivative instruments recognized in AOCI during the three months ended March 31, 2020 results from a reduction in current and forecasted future LIBOR rates primarily driven by the market’s response to the COVID-19 pandemic.