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Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

Summarized unaudited quarterly financial data for 2017 and 2016 are as follows.

 

 

 

Three months ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

 

(In Thousands, Except Per Share Amounts)

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

123,344

 

 

$

122,853

 

 

$

92,390

 

 

$

88,917

 

Gross profit (loss) (1)

 

$

11,615

 

 

$

11,340

 

 

$

(7,285

)

 

$

(10,204

)

Loss from continuing operations (1) (2)

 

$

(5,986

)

 

$

(7,033

)

 

$

(17,112

)

 

$

(162

)

Income from discontinued operations, net of taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,076

 

Net income (loss)

 

$

(5,986

)

 

$

(7,033

)

 

$

(17,112

)

 

$

914

 

Net income (loss) attributable to common stockholders

 

$

(13,196

)

 

$

(14,515

)

 

$

(24,745

)

 

$

(6,991

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.30

)

Income from discontinued operations, net of taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.04

 

Net income (loss)

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.26

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.30

)

Income from discontinued operations, net of taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.04

 

Net income (loss)

 

$

(0.48

)

 

$

(0.53

)

 

$

(0.91

)

 

$

(0.26

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

98,972

 

 

$

109,982

 

 

$

80,262

 

 

$

85,369

 

Gross profit (loss) (1)

 

$

(6,164

)

 

$

2,129

 

 

$

(36,379

)

 

$

(8,892

)

Loss from continuing operations (1) (2)

 

$

(15,765

)

 

$

(7,688

)

 

$

(39,490

)

 

$

(25,190

)

Income from discontinued operations, including taxes

 

 

824

 

 

 

22,779

 

 

 

173,041

 

 

 

3,657

 

Net income (loss)

 

$

(14,941

)

 

$

15,091

 

 

$

133,551

 

 

$

(21,533

)

Net income (loss) attributable to common stockholders

 

$

(24,609

)

 

$

5,055

 

 

$

112,047

 

 

$

(28,654

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(1.11

)

 

$

(0.70

)

 

$

(2.25

)

 

$

(1.19

)

Income from discontinued operations, including taxes

 

 

0.03

 

 

 

0.90

 

 

 

6.39

 

 

 

0.13

 

Net income (loss)

 

$

(1.08

)

 

$

0.20

 

 

$

4.14

 

 

$

(1.06

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(1.11

)

 

$

(0.70

)

 

$

(2.25

)

 

$

(1.19

)

Income from discontinued operations, including taxes

 

 

0.03

 

 

 

0.90

 

 

 

6.39

 

 

 

0.13

 

Net income (loss)

 

$

(1.08

)

 

$

0.20

 

 

$

4.14

 

 

$

(1.06

)

 

LSB Industries, Inc.

Supplementary Financial Data

Quarterly Financial Data (Unaudited)

(1)

The following income (expense) items impacted gross profit (loss) and loss from continuing operations:

 

 

 

Three months ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

 

(In Thousands)

 

Depreciation expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

(17,115

)

 

$

(17,047

)

 

$

(16,179

)

 

$

(16,655

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

(10,590

)

 

$

(14,028

)

 

$

(16,862

)

 

$

(17,874

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recovery of precious metals:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

—

 

 

$

2,905

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Turnaround costs: (A)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

—

 

 

$

—

 

 

$

(1,098

)

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

—

 

 

$

(535

)

 

$

(8,597

)

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consulting fee - property tax services:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

(12,095

)

 

$

—

 

 

$

—

 

 

$

—

 

 

(2)

The following items increased (decreased) loss from continuing operations:

 

Impairment of goodwill:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

—

 

 

$

—

 

 

$

—

 

 

$

1,621

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

9,358

 

 

$

9,292

 

 

$

9,291

 

 

$

9,326

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

1,350

 

 

$

6,446

 

 

$

13,333

 

 

$

9,816

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit for income taxes:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

(1,282

)

 

$

(2,761

)

 

$

(6,698

)

 

$

(30,018

)

 

(A)

Turnaround costs do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.