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Quarterly Results of Operations | 12 Months Ended
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Dec. 31, 2016
Selected Quarterly Financial Information [Abstract] |
Quarterly Results of Operations | Note 20 - Quarterly results of operations (unaudited):
| Quarter ended |
| March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
| (In millions, except per share data) |
Year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 365.1 |  |  | $ | 360.2 |  |  | $ | 336.5 |  |  | $ | 287.0 |
Gross margin |  | 77.4 |  |  |  | 46.5 |  |  |  | 43.2 |  |  |  | 25.2 |
Net income (loss) |  | 18.4 |  |  |  | (159.8 | ) |  |  | (11.8 | ) |  |  | (20.4 | )
Basic and diluted income (loss) per share | $ | .16 |  |  | $ | (1.38 | ) |  | $ | (.10 | ) |  | $ | (.18 | )
Year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 318.4 |  |  | $ | 356.1 |  |  | $ | 356.1 |  |  | $ | 333.7 |
Gross margin |  | 40.4 |  |  |  | 55.5 |  |  |  | 75.5 |  |  |  | 85.6 |
Net income (loss) |  | (3.8 | ) |  |  | 1.7 |  |  |  | 22.2 |  |  |  | 23.2 |
Basic and diluted income (loss) per share | $ | (.03 | ) |  | $ | .01 |  |  | $ | .19 |  |  | $ | .20 |
We recognized the following amounts during 2015:
| • | pretax charges of $21.1 million, $.4 million and $.2 million in the second, third and fourth quarters, respectively, in workforce reduction charges (see Note 13),
| • | a $12.0 million non-cash pretax impairment charge in the third quarter due to other-than-temporary impairment on our investment in a marketable security held for sale (see Note 6), and
| • | non-cash deferred income tax expense of $150.3 million, $2.3 million and $6.4 million in the second, third and fourth quarters, respectively, related to the recognition of a deferred income tax asset valuation allowance related to our German and Belgium operations (see Note 14).
We recognized the following amounts during 2016:
| • | pre-tax insurance settlement gains of $2.0 million, $1.4 million and $.9 million in the first, second and fourth quarters, respectively, (see Note 12),
| • | current income tax benefit of $5.6 million in the third quarter, and current income tax expense of $2.2 million in the fourth quarter, related to the execution and finalization of an Advance Pricing Agreement between the U.S. and Canada (see Note 14),
| • | non-cash deferred income tax expense (benefit) of $2.9 million, $(.8) million and $(4.3) million in the second, third and fourth quarters, respectively, as the result of a net decrease in our deferred income tax asset valuation allowance related to our German and Belgian operations (see Note 14), and
| • | non-cash income tax expense of $2.4 million related to an increase in our reserve for uncertain tax positions, mostly in the fourth quarter.
The sum of the quarterly per share amounts may not equal the annual per share amounts due to relative changes in the weighted average number of shares used in the per share computations.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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