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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
NET SALES:        
Related parties $ 513,681 $ 288,573 $ 1,089,410 $ 574,156
Third-party customers 9,810 169,751 21,992 305,015
Total net sales 523,491 458,324 1,111,402 879,171
Cost of goods sold 515,149 419,820 1,008,965 842,425
Gross profit 8,342 38,504 102,437 36,746
Selling, general and administrative expenses 10,012 10,618 21,983 20,680
Ravenswood impairment 30,850 0 30,850 0
Other operating expense – net 2,601 1,874 4,680 4,288
Operating income (loss) (35,121) 26,012 44,924 11,778
Interest expense (5,573) (5,571) (11,124) (11,048)
Interest income 61 34 203 174
Net gain (loss) on forward and derivative contracts 566 352 919 (527)
Unrealized gain on fair value of contingent consideration 10,287 0 16,814 0
Other income – net 93 300 1,147 47
Income (loss) before income taxes and equity in earnings of joint ventures (29,687) 21,127 52,883 424
Income tax expense (5,065) (1,654) (14,366) (560)
Income (loss) before equity in earnings of joint ventures (34,752) 19,473 38,517 (136)
Equity in earnings of joint ventures 855 871 1,365 376
Net income (loss) (33,897) 20,344 39,882 240
Net income (loss) allocated to common stockholders $ (33,897) $ 18,675 $ 36,628 $ 220
EARNINGS (LOSS) PER COMMON SHARE:        
Basic (in dollars per share) $ (0.39) $ 0.21 $ 0.42 $ 0.00
Diluted (in dollars per share) $ (0.39) $ 0.21 $ 0.41 $ 0.00
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic (shares) 86,873 88,787 87,838 88,752
Diluted (shares) 86,873 89,352 88,495 89,292