Annual report [Section 13 and 15(d), not S-K Item 405]

STOCKHOLDERS??? EQUITY

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STOCKHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Share Repurchase Program
In February 2025, the Board of Directors of the Company approved a $125.0 million share repurchase program. Purchases of the Company’s common stock under the share repurchase program may be made in the open market, including pursuant to a Rule 10b5-1 program, by block repurchases, in private transactions (including with related parties) or otherwise, from time to time, depending on market conditions. The share repurchase program has no expiration date and may be suspended or discontinued at any time without notice, subject to any changes in applicable law or regulations thereunder.
During the year ended December 31, 2025, we repurchased 123,966 shares of common stock in open market transactions for gross considerations of $4.0 million, representing an average cost per share of $32.43. As of December 31, 2025, $121.0 million remained available of the $125.0 million share purchase program authorized in February 2025.
Quarterly Dividend Program
The Company initiated a quarterly cash dividend program beginning in the first quarter of 2026. The declaration and payment of dividends will be subject at all times to the discretion of the Board, and the timing and amount of dividends will depend on the Company’s results of operations, financial condition, cash requirements, growth opportunities, restrictions in our financing arrangements and other factors that the Board may deem relevant.
On February 25, 2026, the Company declared a cash dividend of $0.125 per share of common stock, payable on March 26, 2026 to shareholders of record at the close of business on March 13, 2026.
Accumulated Other Comprehensive Loss
The following table shows the changes in balances for accumulated other comprehensive loss (in thousands):
  Currency Translation Adjustments
Pension Liability Adjustments(1)
Unrealized gain (loss) on cash flow hedges(2)
Total
Balance as of December 31, 2022 $ (45,350) $ (40,090) $ 1,383  $ (84,057)
Other comprehensive income (loss) before reclassification 21,370  —  (84) 21,286 
Reclassified from accumulated other comprehensive income —  7,528  600  8,128 
Net current period other comprehensive income 21,370  7,528  516  29,414 
Foreign exchange rate impact 2,379  (2,379) —  — 
Balance as of December 31, 2023 $ (21,601) $ (34,941) $ 1,899  $ (54,643)
Other comprehensive loss before reclassification (27,689) —  (3,640) (31,329)
Reclassified from accumulated other comprehensive income —  (12,150) 917  (11,233)
Income tax benefit —  3,111  425  3,536 
Net current period other comprehensive loss (27,689) (9,039) (2,298) (39,026)
Foreign exchange rate impact (613) 613  —  — 
Balance as of December 31, 2024 $ (49,903) $ (43,367) $ (399) $ (93,669)
Other comprehensive income (loss) before reclassification 30,436  —  (744) 29,692 
Reclassified from accumulated other comprehensive income —  5,143  1,069  6,212 
Income tax benefit —  —  15  15 
Net current period other comprehensive income 30,436  5,143  340  35,919 
Foreign exchange rate impact 3,208  (3,208) —  — 
Balance as of December 31, 2025 $ (16,259) $ (41,432) $ (59) $ (57,750)
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(1)Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost.
(2)Reclassification of amounts related to cash flow hedges were included as operating expenses