XML 52 R38.htm IDEA: XBRL DOCUMENT
v3.22.4

Quarterly Financial Data (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information | 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.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=126900988&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration