Schedule I - Condensed Financial Information of Parent (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Condensed Financial Information Disclosure [Abstract] |
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| Schedule of Condensed Statements of Income |
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Years ended
December 31, |
|
2023 |
|
2022 |
|
2021 |
| Stock compensation expense |
$ |
16,031 |
|
|
$ |
20,632 |
|
|
$ |
39,523 |
|
| Equity in net (income) loss from subsidiaries |
(87,185) |
|
|
(94,329) |
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|
100,426 |
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| Net income (loss) |
71,154 |
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|
73,697 |
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|
(139,949) |
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| Other comprehensive income (loss), net of tax: |
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|
|
|
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| Pension and postretirement benefits |
1,120 |
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|
(2,676) |
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|
9,530 |
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| Net gain (loss) from hedging activities |
(12,126) |
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|
24,382 |
|
|
2,914 |
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| Foreign currency translation |
4,056 |
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|
(9,922) |
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|
(2,248) |
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| Total other comprehensive income |
(6,950) |
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|
11,784 |
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|
10,196 |
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| Comprehensive income (loss) |
$ |
64,204 |
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|
$ |
85,481 |
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|
$ |
(129,753) |
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| Schedule of Condensed Balance Sheets |
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December 31,
2023 |
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December 31,
2022 |
| ASSETS |
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| Investment in subsidiaries |
$ |
705,464 |
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|
$ |
707,229 |
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| Total assets |
$ |
705,464 |
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|
$ |
707,229 |
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| LIABILITIES |
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| Total liabilities |
$ |
— |
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|
$ |
— |
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| STOCKHOLDERS' EQUITY |
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Common stock (0.01 par); authorized shares 450,000,000; issued shares 140,744,045 and 139,571,272 on December 31, 2023 and 2022, respectively; outstanding shares 116,116,895 and 122,186,238 on December 31, 2023 and 2022, respectively |
1,407 |
|
|
1,396 |
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Preferred stock (0.01 par); authorized shares 50,000,000; no shares issued or outstanding on December 31, 2023 and 2022, respectively |
— |
|
|
— |
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| Additional paid-in capital |
1,102,581 |
|
|
1,091,475 |
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| Accumulated deficit |
(170,856) |
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|
(242,010) |
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Treasury stock, at cost; shares 24,627,150 and 17,385,034 on December 31, 2023 and 2022, respectively |
(226,710) |
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|
(149,624) |
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| Accumulated other comprehensive (loss) income |
(958) |
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|
5,992 |
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| Total equity |
705,464 |
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|
707,229 |
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| Total liabilities and equity |
$ |
705,464 |
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|
$ |
707,229 |
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| Schedule of Condensed Statements of Cash Flow |
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Years ended
December 31, |
|
2023 |
|
2022 |
|
2021 |
| Cash flows from operating activities: |
|
|
|
|
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| Net income (loss) |
$ |
71,154 |
|
|
$ |
73,697 |
|
|
$ |
(139,949) |
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| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
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| Equity in net income from subsidiaries |
(87,185) |
|
|
(94,329) |
|
|
100,426 |
|
| Stock compensation expense |
16,031 |
|
|
20,632 |
|
|
39,523 |
|
| Net cash provided by operating activities |
— |
|
|
— |
|
|
— |
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| Cash flows from investing activities: |
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| Distribution from subsidiaries |
— |
|
|
— |
|
|
435,593 |
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| Net cash provided by investing activities |
— |
|
|
— |
|
|
435,593 |
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| Cash flows from financing activities: |
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|
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| Dividends paid to stockholders |
— |
|
|
— |
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|
(435,593) |
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| Net cash used in financing activities |
— |
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|
— |
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|
(435,593) |
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| Effect of exchange rate changes on cash and cash equivalents |
— |
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— |
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— |
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| Net change in cash and cash equivalents |
— |
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— |
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— |
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| Cash and cash equivalents at beginning of period |
— |
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— |
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— |
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| Cash and cash equivalents at end of period of continuing operations |
$ |
— |
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$ |
— |
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$ |
— |
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