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v3.21.2

Revision for Immaterial Misstatements (Tables) | 6 Months Ended
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Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The revision to the accompanying unaudited consolidated balance sheets, consolidated statements of operations and comprehensive loss, and consolidated statements of cash flows are as follows. There were no changes to the consolidated statements of stockholders’ equity that have not otherwise been reflected in the consolidated balance sheets and consolidated statements of operations and comprehensive loss as detailed in the tables below:
| As of June 30, 2020
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Inventories | $ | 702,592 |  |  | $ | 25,272 |  |  | $ | 727,864 |
Prepaid expenses and other current assets | $ | 211,418 |  |  | $ | (37,200) |  |  | $ | 174,218 |
Total current assets | $ | 2,026,069 |  |  | $ | (11,928) |  |  | $ | 2,014,141 |
Property, plant, and equipment, net | $ | 506,555 |  |  | $ | (34,689) |  |  | $ | 471,866 |
Other noncurrent assets | $ | 794,724 |  |  | $ | 52,642 |  |  | $ | 847,366 |
Total Assets | $ | 4,992,680 |  |  | $ | 6,025 |  |  | $ | 4,998,705 |
Accrued liabilities | $ | 563,633 |  |  | $ | (21,800) |  |  | $ | 541,833 |
Total current liabilities | $ | 1,381,585 |  |  | $ | (21,800) |  |  | $ | 1,359,785 |
Other noncurrent liabilities | $ | 427,692 |  |  | $ | 7,873 |  |  | $ | 435,565 |
Total noncurrent liabilities | $ | 3,524,947 |  |  | $ | 7,873 |  |  | $ | 3,532,820 |
Retained earnings | $ | 1,093,268 |  |  | $ | 19,952 |  |  | $ | 1,113,220 |
Total stockholders' equity | $ | 86,148 |  |  | $ | 19,952 |  |  | $ | 106,100 |
| For the Three Months Ended June 30, 2020
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Cost of sales | $ | 411,288 |  |  | $ | 1,937 |  |  | $ | 413,225 |
Gross Profit | $ | 320,848 |  |  | $ | (1,937) |  |  | $ | 318,911 |
Operating Loss | $ | (46,141) |  |  | $ | (1,937) |  |  | $ | (48,078) |
Loss Before Income Taxes | $ | (97,393) |  |  | $ | (1,937) |  |  | $ | (99,330) |
Net Loss | $ | (109,172) |  |  | $ | (1,937) |  |  | $ | (111,109) |
Comprehensive Loss | $ | (80,886) |  |  | $ | (1,937) |  |  | $ | (82,823) |
Net Loss Per Common Share - Basic | $ | (0.31) |  |  | $ | (0.01) |  |  | $ | (0.32) |
Net Loss Per Common Share - Diluted | $ | (0.31) |  |  | $ | (0.01) |  |  | $ | (0.32) |
| For the Six Months Ended June 30, 2020
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands, except per share amounts)
Consolidated Statement of Operations and Comprehensive Loss |  |  |  |  |
Cost of sales | $ | 750,175 |  |  | $ | (3,102) |  |  | $ | 747,073 |
Gross Profit | $ | 576,031 |  |  | $ | 3,102 |  |  | $ | 579,133 |
Operating Loss | $ | (195,952) |  |  | $ | 3,102 |  |  | $ | (192,850) |
Loss Before Income Taxes | $ | (297,123) |  |  | $ | 3,102 |  |  | $ | (294,021) |
Net Loss | $ | (319,914) |  |  | $ | 3,102 |  |  | $ | (316,812) |
Comprehensive Loss | $ | (428,027) |  |  | $ | 3,102 |  |  | $ | (424,925) |
Net Loss Per Common Share - Basic | $ | (0.92) |  |  | $ | 0.01 |  |  | $ | (0.91) |
Net Loss Per Common Share - Diluted | $ | (0.92) |  |  | $ | 0.01 |  |  | $ | (0.91) |
| For the Six Months Ended June 30, 2020
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Statement of Cash Flows |  |  |  |  |
Net loss | $ | (319,914) |  |  | $ | 3,102 |  |  | $ | (316,812) |
Changes in assets and liabilities: |  |  |  |  |
Inventories | $ | (241,833) |  |  | $ | (3,102) |  |  | $ | (244,935) |
Prepaid expenses and other current assets | $ | (30,923) |  |  | $ | 11,500 |  |  | $ | (19,423) |
Accounts payable, accrued liabilities, and income taxes payable | $ | (305,316) |  |  | $ | (12,689) |  |  | $ | (318,005) |
Other, net | $ | 28,092 |  |  | $ | (5,044) |  |  | $ | 23,048 |
Net cash flows used for operating activities | $ | (463,032) |  |  | $ | (6,233) |  |  | $ | (469,265) |
Purchases of tools, dies, and molds | $ | (25,824) |  |  | $ | (560) |  |  | $ | (26,384) |
Purchases of other property, plant, and equipment | $ | (34,367) |  |  | $ | 6,793 |  |  | $ | (27,574) |
Net cash flows used for investing activities | $ | (80,932) |  |  | $ | 6,233 |  |  | $ | (74,699) |
| As of December 31, 2020
| As Previously Reported |  | Adjustments |  | As Revised
| (In thousands)
Consolidated Balance Sheet |  |  |  |  |
Inventories | $ | 514,673 |  |  | $ | 13,801 |  |  | $ | 528,474 |
Total current assets | $ | 2,482,890 |  |  | $ | 13,801 |  |  | $ | 2,496,691 |
Total Assets | $ | 5,521,089 |  |  | $ | 13,801 |  |  | $ | 5,534,890 |
Retained earnings | $ | 1,539,809 |  |  | $ | 13,801 |  |  | $ | 1,553,610 |
Total stockholders' equity | $ | 596,343 |  |  | $ | 13,801 |  |  | $ | 610,144 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794 + Details
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