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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | 22. Quarterly Financial Data (Unaudited) The following tables present select quarterly financial data for 2017 and 2016:
Historical |  | 2017 |  |  | 2016 |
(in millions, except per share data) |  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | First |  |  | Second |  |  | Third |  |  | Fourth |
Statements of operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 305.8 |  |  | $ | 394.6 |  |  | $ | 399.4 |  |  | $ | 481.5 |  |  | $ | 427.4 |  |  | $ | 457.7 |  |  | $ | 349.8 |  |  | $ | 378.2 |
Cost of sales |  |  | 253.9 |  |  |  | 318.3 |  |  |  | 326.9 |  |  |  | 400.3 |  |  |  | 347.7 |  |  |  | 370.4 |  |  |  | 309.0 |  |  |  | 332.7 |
Gross profit |  |  | 51.9 |  |  |  | 76.3 |  |  |  | 72.5 |  |  |  | 81.2 |  |  |  | 79.7 |  |  |  | 87.3 |  |  |  | 40.8 |  |  |  | 45.5 |
Operating income (loss) |  |  | (23.7 | ) |  |  | 9.9 |  |  |  | 7.9 |  |  |  | 7.0 |  |  |  | 0.8 |  |  |  | 3.9 |  |  |  | (134.2 | ) |  |  | (23.8 | )
(Loss) income from continuing operations before taxes |  |  | (34.5 | ) |  |  | 3.0 |  |  |  | (3.4 | ) |  |  | (4.6 | ) |  |  | (85.0 | ) |  |  | (4.3 | ) |  |  | (144.2 | ) |  |  | (34.6 | )
Provision (benefit) for taxes on income |  |  | 1.5 |  |  |  | 2.3 |  |  |  | (13.1 | ) |  |  | (40.2 | ) |  |  | 107.7 |  |  |  | 0.7 |  |  |  | (5.3 | ) |  |  | (2.6 | )
Income (loss) from continuing operations |  |  | (36.0 | ) |  |  | 0.7 |  |  |  | 9.7 |  |  |  | 35.6 |  |  |  | (192.7 | ) |  |  | (5.0 | ) |  |  | (138.9 | ) |  |  | (32.0 | )
(Loss) income from discontinued operations, net of income taxes |  |  | — |  |  |  | (0.2 | ) |  |  | (0.1 | ) |  |  | (0.3 | ) |  |  | (3.2 | ) |  |  | (0.8 | ) |  |  | (1.8 | ) |  |  | (1.4 | )
Net income (loss) |  |  | (36.0 | ) |  |  | 0.5 |  |  |  | 9.6 |  |  |  | 35.3 |  |  |  | (195.9 | ) |  |  | (5.8 | ) |  |  | (140.7 | ) |  |  | (33.4 | )
Basic (loss) income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations |  | $ | (1.04 | ) |  | $ | — |  |  | $ | 0.28 |  |  | $ | 1.01 |  |  | $ | (5.64 | ) |  | $ | (0.15 | ) |  | $ | (4.01 | ) |  | $ | (0.92 | )
(Loss) income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (0.01 | ) |  |  | (0.09 | ) |  |  | (0.02 | ) |  |  | (0.05 | ) |  |  | (0.04 | )
(Loss) income per share |  | $ | (1.04 | ) |  | $ | — |  |  | $ | 0.28 |  |  | $ | 1.00 |  |  | $ | (5.73 | ) |  | $ | (0.17 | ) |  | $ | (4.06 | ) |  | $ | (0.96 | )
Diluted (loss) income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss) income from continuing operations |  | $ | (1.04 | ) |  | $ | — |  |  | $ | 0.28 |  |  | $ | 0.98 |  |  | $ | (5.64 | ) |  | $ | (0.15 | ) |  | $ | (4.01 | ) |  | $ | (0.92 | )
(Loss) income from discontinued operations |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (0.01 | ) |  |  | (0.09 | ) |  |  | (0.02 | ) |  |  | (0.05 | ) |  |  | (0.04 | )
(Loss) income per share |  | $ | (1.04 | ) |  | $ | — |  |  | $ | 0.28 |  |  | $ | 0.97 |  |  | $ | (5.73 | ) |  | $ | (0.17 | ) |  | $ | (4.06 | ) |  | $ | (0.96 | )
Dividends per common share |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cash flows from operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (36.0 | ) |  | $ | 0.5 |  |  | $ | 9.6 |  |  | $ | 35.3 |  |  | $ | (195.9 | ) |  | $ | (5.8 | ) |  | $ | (140.7 | ) |  | $ | (33.4 | )
Deferred income taxes |  |  | — |  |  |  | — |  |  |  | (1.3 | ) |  |  | (42.8 | ) |  |  | 110.3 |  |  |  | 1.1 |  |  |  | 2.6 |  |  |  | (12.6 | )
Change in inventories, net |  |  | (31.2 | ) |  |  | (3.4 | ) |  |  | 0.8 |  |  |  | 89.4 |  |  |  | (33.7 | ) |  |  | (6.2 | ) |  |  | 7.5 |  |  |  | 85.1 |
During the second quarter of 2016, the Company identified two adjustments to the previously issued financial statements for the three months ended March 31, 2016. In evaluating whether the Company’s previously issued consolidated financial statements were materially misstated, the Company considered the guidance in ASC Topic 250, “Accounting Changes and Error Corrections” and ASC Topic 250-10-S99-1, “Assessing Materiality.” The Company determined that these errors were not material to the Company's prior interim period consolidated financial statements and therefore, amending the previously filed report was not required. However, the Company determined that the impact of the corrections would be too significant to record within the second quarter of 2016. As such, the revision for the corrections was reflected in the financial information of the first quarter of 2016 and 2015, as applicable. The adjustments were as follows:
| • | Adjustment related to AOCI, whereby the Company had understated loss on debt extinguishment by $4.3 million, overstated income tax expense by $0.8 million, and understated loss from continuing operations by $3.5 million in the first quarter of 2016. The adjustment also resulted in an overstatement of AOCL and understatement of retained earnings by $2.6 million as of March 31, 2016.
| • | Adjustment related to the classification of income tax expense between continuing operations and discontinued operations in the three months ended March 31, 2015, whereby the Company had understated the benefit for taxes on continuing operations and understated the income tax provision on discontinued operations by $2.1 million.
During the fourth quarter of 2016, the Company identified an adjustment to the previously issued financial statements for the three months ended March 31, 2016, six months ended June 30, 2016, and nine months ended September 30, 2016, related to a non-cash reclassification between continuing and discontinued operations with the operating section of the Statement of Cash Flows in the three months ended March 31, 2016, whereby the change in accrued expenses and other liabilities and net cash used for operating activities of continuing operations was understated by $16.2 million, and the net cash used for operating activities of discontinued operating activities was overstated by $16.2 million. In evaluating whether the Company’s previously issued consolidated financial statements were materially misstated, the Company considered the guidance in ASC Topic 250, “Accounting Changes and Error Corrections” and ASC Topic 250-10-S99-1, “Assessing Materiality.” The Company determined that these errors were not material to the Company's prior interim period consolidated financial statements and therefore, amending the previously filed reports was not required.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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