XML 23 R3.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Sales $ 859,154 $ 1,040,160 $ 1,192,952
Cost of sales 592,781 751,696 835,098
Gross profit 266,373 288,464 357,854
Selling, general and administrative expenses 195,911 200,794 201,752
Amortization expense 11,873 17,333 17,945
Asset impairments 1,217 253,560 0
Operating expenses 209,001 471,687 219,697
Operating income (loss) 57,372 [1],[2] (183,223) [3],[4] 138,157
Other expenses:      
Interest expense, net 17,338 15,971 16,631
Financing costs amortization 1,284 1,290 1,392
Foreign currency loss 351 1,348 970
Other expenses, net 18,973 18,609 18,993
Income (loss) before income taxes 38,399 (201,832) 119,164
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Current 16,285 27,087 36,340
Deferred (2,583) (24,403) (248)
Income tax expense, net 13,702 2,684 36,092
Net income (loss) 24,697 (204,516) 83,072
Noncontrolling interests, net of taxes (3,540) (1,556) 1,208
Net income (loss) attributable to Chart Industries, Inc. $ 28,237 $ (202,960) $ 81,864
Net income (loss) attributable to Chart Industries, Inc. per common share:      
Basic $ 0.92 [5] $ (6.66) [6] $ 2.69
Diluted $ 0.91 [5],[7] $ (6.66) [6],[7] $ 2.67
Weighted average number of common shares outstanding:      
Basic 30,583 30,493 30,384
Diluted 30,994 30,493 30,666
Retained Earnings [Member]      
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Net income (loss) attributable to Chart Industries, Inc. $ 28,237 $ (202,960) $ 81,864
[1] (1) During the third quarter of 2016, the Company recovered for breaches of representations and warranties primarily related to warranty costs for certain product lines acquired in the 2012 acquisition of AirSep under the related representation and warranty insurance. For the year ended December 31, 2016, this reduced BioMedical segment’s cost of sales by $15,145 and Corporate SG&A expenses by $376, net of associated legal fees recorded in 2016. The 2016 operating income also includes asset impairment charges of $1,217 attributed to D&S.
[2] The 2016 operating income also includes impairment of goodwill and intangible assets totaling $1,217 as described in Note 3, Asset Impairments, to the consolidated financial statements.
[3] (1) Includes impairment of goodwill and intangible assets totaling $253,560 as described in Note 3, Asset Impairments, to the consolidated financial statements.
[4] Includes asset impairment charges of $255,116 for the year ended December 31, 2015, attributed to E&C - $68,796, D&S - $2,020, and BioMedical - $184,300.
[5] Basic and diluted (loss) earnings per share are computed independently for each of the quarters presented. As such, the sum of quarterly basic and diluted (loss) earnings per share may not equal reported annual basic and diluted (loss) earnings per share.
[6] (2) Basic and diluted (loss) earnings per share are computed independently for each of the quarters presented. As such, the sum of quarterly basic and diluted (loss) earnings per share may not equal reported annual basic and diluted (loss) earnings per share.
[7] Zero incremental shares from share-based awards are included in the computation of diluted net loss per share for periods in which a net loss occurs, because to do so would be anti-dilutive.