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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | Supplementary Information Quarterly Financial Data (Unaudited) Summarized unaudited quarterly financial data for 2020 and 2019 are as follows.
|  | Three months ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
|  | (In Thousands, Except Per Share Amounts) |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 83,411 |  |  | $ | 105,033 |  |  | $ | 73,969 |  |  | $ | 88,903 |
Gross profit (loss) (1) |  | $ | 2,551 |  |  | $ | 19,021 |  |  | $ | (1,059 | ) |  | $ | (3,465 | )
Net loss (1) (2) |  | $ | (19,452 | ) |  | $ | (365 | ) |  | $ | (20,402 | ) |  | $ | (21,692 | )
Net loss attributable to common stockholders |  | $ | (28,338 | ) |  | $ | (9,634 | ) |  | $ | (29,874 | ) |  | $ | (31,573 | )
Basic and diluted loss per common share |  | $ | (1.01 | ) |  | $ | (0.34 | ) |  | $ | (1.06 | ) |  | $ | (1.12 | )
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 94,152 |  |  | $ | 121,527 |  |  | $ | 75,495 |  |  | $ | 73,896 |
Gross profit (loss) (1) |  | $ | 7,318 |  |  | $ | 19,677 |  |  | $ | (9,733 | ) |  | $ | (12,277 | )
Net income (loss) (1) (2) |  | $ | (11,540 | ) |  | $ | 6,631 |  |  | $ | (30,794 | ) |  | $ | (27,714 | )
Net loss attributable to common stockholders |  | $ | (19,367 | ) |  | $ | (1,530 | ) |  | $ | (39,133 | ) |  | $ | (36,411 | )
Basic and diluted loss per common share |  | $ | (0.69 | ) |  | $ | (0.05 | ) |  | $ | (1.39 | ) |  | $ | (1.30 | )
LSB Industries, Inc. Supplementary Financial Data Quarterly Financial Data (Unaudited)
(1) | The following income (expense) items impacted gross profit (loss) and net income (loss):
|  | Three months ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
|  | (In Thousands) |
Recovery from settlements with certain vendors |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | — |  |  | $ | 5,664 |  |  | $ | — |  |  | $ | — |
Turnaround expense: (A) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | — |  |  | $ | (11 | ) |  | $ | (34 | ) |  | $ | (31 | )
2019 |  | $ | — |  |  | $ | (604 | ) |  | $ | (7,232 | ) |  | $ | (5,374 | )
Unrealized gain (loss) on natural gas contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | (527 | ) |  | $ | 396 |  |  | $ | 669 |  |  | $ | (1,743 | )
(2) | The following income (expense) items impacted net income (loss):
Charge associated with assets held for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2019 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (9,701 | )
Legal fees associated with Leidos matter |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | (3,287 | ) |  | $ | (955 | ) |  | $ | (901 | ) |  | $ | (572 | )
2019 |  | $ | (932 | ) |  | $ | (1,496 | ) |  | $ | (3,330 | ) |  | $ | (3,843 | )
Interest expense associated with Global judgment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | (1,327 | ) |  | $ | (79 | ) |  | $ | (80 | ) |  | $ | (80 | )
Benefit (provision) for income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2020 |  | $ | 339 |  |  | $ | 1,299 |  |  | $ | 1,370 |  |  | $ | 1,741 |
2019 (B) |  | $ | (400 | ) |  | $ | 5,733 |  |  | $ | 483 |  |  | $ | 15,108 |
(A) | Turnaround expenses do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.
(B) | The deferred tax benefit for the three-month period ended December 31, 2019 is primarily due to federal and state indefinite lived carryforward benefits that can be realized through the reversal of deferred tax liabilities.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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