STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Jun. 30, 2020

Schedule of Stockholders' Equity and Accumulated Other Comprehensive Income (Loss)

Changes in stockholders' equity for the three and six-month periods ended June 30, 2021 and 2020 were as follows:


	For the Three Months Ended				For the Six Months Ended
In thousands	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Beginning Balance	$	264,550	$	253,577	$	257,696	$	318,420
Comprehensive income (loss)	8,737		(1,396)		14,200		(66,997)
Stock repurchased	—		—		(201)		(8)
Stock issued under employee plans	151		1		793		32
Stock-based compensation expense	1,363		720		2,313		1,455
Stock issued to directors	398		360		398		360




Ending Balance	$	275,199	$	253,262	$	275,199	$	253,262

The components of accumulated other comprehensive income (loss) are shown below:


	For the Three Months Ended				For the Six Months Ended
In thousands	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Foreign currency translation:
Beginning balance	$	(6,528)	$	(27,979)	$	(3,514)	$	(18,022)
Net gain (loss) on foreign currency translation	3,060		5,146		(988)		(4,811)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	—		—		1,034		—
Other comprehensive income (loss), net of tax	3,060		5,146		46		(4,811)
Ending balance	(3,468)		(22,833)		(3,468)		(22,833)

Pension and other postretirement benefit plans:
Beginning balance	(5,243)		(2,749)		(5,608)		(3,080)
Amounts reclassified from accumulated other comprehensive income (loss) (2)	22		—		387		331
Other comprehensive income (loss), net of tax	22		—		387		331
Ending balance	(5,221)		(2,749)		(5,221)		(2,749)

Unrealized loss on derivative instruments:
Beginning balance	(6,202)		(4,431)		(9,220)		(4,877)
Net gain (loss) on derivative instruments (3)	(696)		(1,082)		1,704		(636)
Amounts reclassified from accumulated other comprehensive income (loss) (4)	571		397		1,189		397
Other comprehensive income (loss), net of tax	(125)		(685)		2,893		(239)
Ending balance	(6,327)		(5,116)		(6,327)		(5,116)

Total accumulated other comprehensive income (loss)	$	(15,016)	$	(30,698)	$	(15,016)	$	(30,698)

(1)For the six-month period ended June 30, 2021, the amount represents the recognition of the accumulated loss on foreign currency translation relating to the divestiture of the German Facility in the Performance Materials segment, net of tax impact of $0.2 million. This is included in (Gain) loss on the sale of a business on the Company’s Condensed Consolidated Statements of Operations.

(2)For the three-month period ended June 30, 2021, the amount represents routine amortization of actuarial gains and losses in net periodic benefit cost, net of tax impact of less than $0.1 million. For the six-month period ended June 30, 2021, the amount primarily represents the recognition of the accumulated loss on the defined pension plan relating to the divestiture of the German Facility in the Performance Materials segment. This amount was $0.4 million, net of tax impact of $0.1 million, and is included in (Gain) loss on the sale of a business on the Company’s Condensed Consolidated Statements of Operations. For the six-month period ended June 30, 2020, the amount primarily represents the settlement of the ISS Pension Plan. This amount was $0.4 million, net of tax impact of $0.1 million. The amounts for the six-month periods ended June 30, 2021 and 2020 also include routine amortization of actuarial gains and losses in net periodic benefit cost of less than $0.1 million, net of tax impact of less than $0.1 million.

(3)Amount represents unrealized gains (losses) on the fair value of hedging activities, net of tax impact of $0.2 million and $0.3 million for the three-month periods ended June 30, 2021 and 2020, respectively and $0.5 million and $0.2 million for the six-month periods ended June 30, 2021 and 2020, respectively.

(4)Amount represents the impact of de-designation of the interest rate swap agreement, net of tax impact of $0.6 million and $0.1 million for the three-month periods ended June 30, 2021 and 2020, respectively and $0.4 million and $0.1 million for the six-month periods ended June 30, 2021 and 2020, respectively.

LYDALL INC /DE/ 10-Q