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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | Supplementary Information Quarterly Financia l Data (Unaudited) Summarized unaudited quarterly financial data for 2022 and 2021 are as follows.
|  | Three months ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
|  | (In Thousands, Except Per Share Amounts) |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 198,981 |  |  | $ | 284,803 |  |  | $ | 184,273 |  |  | $ | 233,654 |
Gross profit (1) |  | $ | 90,730 |  |  | $ | 142,924 |  |  | $ | 22,129 |  |  | $ | 92,584 |
Net income (1) (2) |  | $ | 58,766 |  |  | $ | 103,399 |  |  | $ | 2,312 |  |  | $ | 65,870 |
Net income attributable to common stockholders |  | $ | 58,766 |  |  | $ | 103,399 |  |  | $ | 2,312 |  |  | $ | 65,870 |
Basic income per common share |  | $ | 0.66 |  |  | $ | 1.17 |  |  | $ | 0.03 |  |  | $ | 0.84 |
Diluted income per common share |  | $ | 0.65 |  |  | $ | 1.15 |  |  | $ | 0.03 |  |  | $ | 0.83 |
2021 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 98,116 |  |  | $ | 140,696 |  |  | $ | 127,199 |  |  | $ | 190,228 |
Gross profit (1) |  | $ | 8,060 |  |  | $ | 35,008 |  |  | $ | 17,447 |  |  | $ | 78,464 |
Net income (loss) (1) (2) |  | $ | (13,279 | ) |  | $ | 23,670 |  |  | $ | (8,928 | ) |  | $ | 42,082 |
Net income (loss) attributable to common stockholders (A) |  | $ | (23,376 | ) |  | $ | 12,646 |  |  | $ | (251,504 | ) |  | $ | 42,009 |
Basic income (loss) per common share |  | $ | (0.63 | ) |  | $ | 0.34 |  |  | $ | (6.39 | ) |  | $ | 0.49 |
Diluted income (loss) per common share |  | $ | (0.63 | ) |  | $ | 0.32 |  |  | $ | (6.39 | ) |  | $ | 0.47 |
(A) See Note 1 concerning a deemed dividend associated with an exchange transaction and special dividend, which was consummated during the third quarter of 2021. 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) |
Turnaround expense: (A) |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | (2,531 | ) |  | $ | (3,295 | ) |  | $ | (19,238 | ) |  | $ | (4,171 | )
2021 |  | $ | (140 | ) |  | $ | (707 | ) |  | $ | (7,976 | ) |  | $ | (1,130 | )
Gain (loss) on natural gas forward contracts |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | $ | 2,706 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Compensation expense due to CoC event |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | $ | — |  |  | $ | — |  |  | $ | (1,221 | ) |  | $ | — |
(2) The following income (expense) items impacted net income (loss):
Legal fees associated with Leidos matter |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | (342 | ) |  | $ | (270 | ) |  | $ | (302 | ) |  | $ | (200 | )
2021 |  | $ | (886 | ) |  | $ | (441 | ) |  | $ | (271 | ) |  | $ | (296 | )
Compensation expense due to CoC event |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | $ | — |  |  | $ | — |  |  | $ | (3,786 | ) |  | $ | — |
Gain (loss) on extinguishments of debt |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | (113 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
2021 |  | $ | — |  |  | $ | 10,000 |  |  | $ | — |  |  | $ | (20,259 | )
Interest expense associated with Global judgment |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | (79 | ) |  | $ | (79 | ) |  | $ | (80 | ) |  | $ | (80 | )
2021 |  | $ | (78 | ) |  | $ | (79 | ) |  | $ | (80 | ) |  | $ | (80 | )
Gain (loss) associated with embedded derivative |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | $ | (436 | ) |  | $ | (716 | ) |  | $ | (1,106 | ) |  | $ | — |
Benefit (provision) for income taxes |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | $ | (11,115 | ) |  | $ | (20,382 | ) |  | $ | (780 | ) |  | $ | (6,897 | )
2021 |  | $ | (42 | ) |  | $ | 248 |  |  | $ | (19 | ) |  | $ | 4,369 |
(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.

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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 https://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306 + Details
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