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Adoption of ASC 606 (Tables)

6 Months Ended

Jun. 30, 2018

Revenue From Contract With Customer [Abstract]

Summary of Impact of Adoption of Accounting Standards

The following line items in our condensed consolidated statement of operations for the current reporting periods have been provided to reflect both the adoption of ASC 606 as well as a comparative presentation in accordance with ASC 605 previously in affect:

		Three Months Ended June 30, 2018
		As				Balance without				Effect of Change
		Reported				adoption of 606				Higher/(Lower)
		(In Thousands)
Net sales		$	103,199			$	120,492			$	(17,293	)
Cost of sales			100,126				117,264				(17,138	)
Gross profit			3,073				3,228				(155	)
Selling, general and administrative expense			8,397				8,552				(155	)
Operating loss			(5,869	)			(5,869	)			—

		Six Months Ended June 30, 2018
		As				Balance without				Effect of Change
		Reported				adoption of 606				Higher/(Lower)
		(In Thousands)
Net sales		$	203,649			$	237,042			$	(33,393	)
Cost of sales			190,483				223,570				(33,087	)
Gross profit			13,166				13,472				(306	)
Selling, general and administrative expense			16,700				17,006				(306	)
Operating loss			(3,985	)			(3,985	)			—

Summary of Net Sales Disaggregated by Revenue Source

Note 2: Adoption of ASC 606 (continued)

As mentioned in Note 1, we primarily derive our revenues from the sales of various chemical products.  The following tables present our net sales disaggregated by revenue source:

		Three Months Ended June 30,
		2018				2017(a)
		(Dollars In Thousands)
Net sales:
Agricultural products		$	58,024			$	57,236
Industrial acids and other chemical products			32,775				53,217
Mining products			12,400				10,344
Other products			—				2,056
Total net sales		$	103,199			$	122,853

		Six Months Ended June 30,
		2018				2017(a)
		(Dollars In Thousands)
Net sales:
Agricultural products		$	110,293			$	120,499
Industrial acids and other chemical products			70,912				102,097
Mining products			22,444				17,960
Other products			—				5,641
Total net sales		$	203,649			$	246,197

(a) As noted above, prior period amounts have not been adjusted under the modified retrospective method.

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- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9031-108599

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Tabular disclosure of the comparison between amounts disclosed under previous guidance and new guidance.

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