XML 41 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
NET SALES:        
Third-party customers $ 175,857 $ 271,016 $ 480,872 $ 680,480
Related parties 324,775 128,912 898,931 372,659
Sales Revenue – net 500,632 399,928 1,379,803 1,053,139
Cost of goods sold 424,918 387,574 1,267,343 1,028,901
Gross profit 75,714 12,354 112,460 24,238
Other operating expense – net 1,417 2,174 5,705 6,288
Selling, general and administrative expenses 12,146 14,422 32,826 45,875
Operating income (loss) 62,151 (4,242) 73,929 (27,925)
Interest expense (5,493) (5,406) (16,541) (17,706)
Interest income 23 141 197 458
Net gain (loss) on forward and derivative contracts 353 440 (174) 16,151
Gain on bargain purchase 0 0 0 5,253
Loss on early extinguishment of debt 0 0 0 (3,272)
Other income (expense) – net (470) 213 (423) (1,001)
Income (loss) before income taxes and equity in earnings of joint ventures 56,564 (8,854) 56,988 (28,042)
Income tax expense (6,444) (1,384) (7,004) (4,714)
Income (loss) before equity in earnings of joint ventures 50,120 (10,238) 49,984 (32,756)
Equity in earnings of joint ventures 285 731 661 2,118
Net income (loss) 50,405 (9,507) 50,645 (30,638)
Net income (loss) allocated to common stockholders $ 46,277 $ (9,507) $ 46,487 $ (30,638)
EARNINGS (LOSS) PER COMMON SHARE:        
Basic and Diluted $ 0.52 $ (0.11) $ 0.52 $ (0.35)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic 88,827 88,611 88,777 88,588
Diluted 89,532 88,611 89,372 88,588