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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
NET SALES:        
Third-party customers $ 220,950 $ 184,022 $ 409,464 $ 372,861
Related parties 110,987 139,597 243,747 276,948
Sales Revenue – net 331,937 323,619 653,211 649,809
Cost of goods sold 337,635 317,662 641,327 623,260
Gross profit (loss) (5,698) 5,957 11,884 26,549
Other operating expenses – net 3,018 3,817 4,114 7,538
Selling, general and administrative expenses 15,154 7,151 31,453 15,610
Operating income (loss) (23,870) (5,011) (23,683) 3,401
Interest expense – third party (6,224) (5,946) (12,300) (11,924)
Interest income – third party 186 113 317 251
Interest income – related parties 0 2 0 62
Net gain (loss) on forward and derivative contracts 204 1,450 15,711 (3,709)
Gain on bargain purchase 2,042 0 2,042 0
Loss on early extinguishment of debt (3,272) 0 (3,272) 0
Other income (expense) - net (1,284) 161 (1,214) 467
Loss before income taxes and equity in earnings of joint ventures (32,218) (9,231) (22,399) (11,452)
Income tax expense (2,791) (3,395) (5,308) (6,216)
Loss before equity in earnings of joint ventures (35,009) (12,626) (27,707) (17,668)
Equity in earnings of joint ventures 436 349 1,387 990
Net loss (34,573) (12,277) (26,320) (16,678)
Net loss allocated to common shareholders (34,573) (12,277) (26,320) (16,678)
LOSS PER COMMON SHARE:        
Basic and Diluted $ (0.39) $ (0.14) $ (0.30) $ (0.19)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic 88,597 88,452 88,576 88,589
Diluted 88,597 88,452 88,576 88,589
Weighted Average Number of Shares Outstanding, Diluted 88,597 88,452 88,576 88,589
Net unrealized gain (loss) on financial instruments 0 26 0 (220)
Net loss reclassified to income on financial instruments 0 209 0 481
Net gain on foreign currency cash flow hedges reclassified as income (46) (46) (93) (93)
Net gain arising during the period 10,349 49 10,349 49
Amortization of prior service benefit during the period (916) (1,031) (1,944) (2,056)
Amortization of net loss during the period 2,130 2,941 4,482 5,125
Other comprehensive income before income tax effect 11,517 2,148 12,794 3,286
Income tax effect 383 383 765 765
Other comprehensive income 11,134 1,765 12,029 2,521
Total comprehensive income (loss) $ (23,439) $ (10,512) $ (14,291) $ (14,157)