XML 18 R4.htm IDEA: XBRL DOCUMENT v3.24.2
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net sales $ 137,327 $ 185,561 $ 273,911 $ 324,363
Cost of goods sold 131,970 157,216 267,174 269,861
Lower of cost or market inventory valuation adjustment 1,381 0 4,073 0
Gross profit 3,976 28,345 2,664 54,502
Research and development 1,447 1,196 3,074 2,388
Selling and administrative expenses 5,098 18,551 20,375 40,702
Rationalization expenses 110 0 3,255 0
Operating (loss) income (2,679) 8,598 (24,040) 11,412
Other (income) expense, net (1,091) 455 (1,484) 1,108
Interest expense 15,609 13,907 31,235 26,713
Interest income (1,853) (242) (3,377) (614)
Loss before (benefit) provision for income taxes (15,344) (5,522) (50,414) (15,795)
(Benefit) provision for income taxes (592) 2,329 (4,793) (575)
Net loss $ (14,752) $ (7,851) $ (45,621) $ (15,220)
Basic loss per common share:        
Net (loss) income per share (usd per share) $ (0.06) $ (0.03) $ (0.18) $ (0.06)
Weighted average common shares outstanding (shares) 257,772,069 257,003,691 257,587,613 256,935,763
Diluted loss per common share:        
Net (loss) income per share (usd per share) $ (0.06) $ (0.03) $ (0.18) $ (0.06)
Weighted average common shares outstanding (shares) 257,772,069 257,003,691 257,587,613 256,935,763
Other comprehensive (loss) income:        
Foreign currency translation adjustments, net of tax of $0, $0, $45 and $0, respectively $ (6,240) $ 2,949 $ (12,712) $ 7,572
Commodities, interest rate and foreign currency derivatives, net of tax benefit of $573, $952, $1,725 and $1,905, respectively (1,948) (3,596) (6,201) (6,173)
Other comprehensive (loss) income, net of tax (8,188) (647) (18,913) 1,399
Comprehensive loss $ (22,940) $ (8,498) $ (64,534) $ (13,821)