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Revision for Immaterial Misstatements (Tables)

6 Months Ended

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
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-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

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