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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
NET SALES: |  |
Related parties | $ 280,377 | $ 575,729
Third-party customers | 38,477 | 12,182
Total net sales | 318,854 | 587,911
Cost of goods sold | 321,906 | 493,816
Gross profit (loss) | (3,052) | 94,095
Selling, general and administrative expenses | 9,625 | 11,971
Other operating expense - net | 881 | 2,079
Operating income (loss) | (13,558) | 80,045
Interest expense | (5,493) | (5,551)
Interest income | 114 | 142
Net gain on forward and derivative contracts | 353 | 353
Unrealized gain on fair value of contingent consideration | 0 | 6,527
Other income (expense) - net | (6) | 1,054
Income (loss) before income taxes and equity in earnings of joint ventures | (18,590) | 82,570
Income tax benefit (expense) | 2,070 | (9,301)
Income (loss) before equity in earnings of joint ventures | (16,520) | 73,269
Equity in earnings of joint ventures | 357 | 510
Net income (loss) | (16,163) | 73,779
Net income (loss) allocated to common stockholders | $ (16,163) | $ 67,813
EARNINGS (LOSS) PER COMMON SHARE: |  |
Basic and Diluted (in dollars per share) | $ (0.19) | $ 0.76
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: |  |
Basic (shares) | 87,040 | 88,814
Diluted (shares) | 87,040 | 89,369

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