XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net sales $ 130,654 $ 158,992 $ 404,565 $ 483,355
Cost of goods sold 134,885 157,603 402,059 427,464
Lower of cost or market inventory valuation adjustment 7,843 0 11,916 0
Gross (loss) profit (12,074) 1,389 (9,410) 55,891
Research and development 1,245 1,295 4,319 3,683
Selling and administrative expenses 13,060 18,231 33,435 58,933
Rationalization expenses (99) 0 3,156 0
Operating loss (26,280) (18,137) (50,320) (6,725)
Other (income) expense, net (285) 153 (1,769) 1,261
Interest expense 16,503 15,719 47,738 42,432
Interest income (1,098) (1,144) (4,475) (1,758)
Loss before income taxes (41,400) (32,865) (91,814) (48,660)
Income tax benefit (5,332) (10,244) (10,125) (10,819)
Net loss $ (36,068) $ (22,621) $ (81,689) $ (37,841)
Basic loss per common share:        
Net (loss) income per share (usd per share) $ (0.14) $ (0.09) $ (0.32) $ (0.15)
Weighted average common shares outstanding (shares) 257,694,799 257,090,113 257,568,237 256,987,778
Diluted loss per common share:        
Net (loss) income per share (usd per share) $ (0.14) $ (0.09) $ (0.32) $ (0.15)
Weighted average common shares outstanding (shares) 257,694,799 257,090,113 257,568,237 256,987,778
Other comprehensive (loss) income:        
Foreign currency translation adjustments, net of tax of $(16), $0, $29 and $0, respectively $ 10,308 $ (8,035) $ (2,404) $ (463)
Commodities, interest rate and foreign currency derivatives, net of tax benefit of $386, $1,218, $2,111 and $3,132, respectively (1,315) (2,906) (7,516) (9,079)
Other comprehensive income (loss), net of tax 8,993 (10,941) (9,920) (9,542)
Comprehensive loss $ (27,075) $ (33,562) $ (91,609) $ (47,383)