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Prior Periods Financial Statement Revision | 9 Months Ended
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Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract] |
Prior Periods Financial Statement Revision | Note 15. Prior Periods’ Financial Statement Revision As described in Note 1 in these Notes to Condensed Consolidated Financial Statements, we corrected misstatements for all prior periods presented by revising the Condensed Consolidated Financial Statements and other financial information included herein. We have not revised Consolidated Statements of Cash Flows for any periods. The amounts presented below for prior periods were reported before the PBC business qualified as discontinued operations and therefore include the results of the PBC business. The following tables present the effect of the revision on the Condensed Consolidated Statements of Operations.
|  | Year Ended December 31, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Selling, general and administrative expense |  | $ | 80,266 |  |  | $ | (37 | ) |  | $ | 80,229 |
Income from operations |  |  | 59,400 |  |  |  | 37 |  |  |  | 59,437 |
Write-off of unamortized debt issuance costs |  |  | 3,089 |  |  |  | (500 | ) |  |  | 2,589 |
Income (loss) before provision (benefit) for income taxes and share of net income from joint venture |  |  | (7,309 | ) |  |  | 537 |  |  |  | (6,772 | )
Provision (benefit) for income taxes |  |  | (9,313 | ) |  |  | 1,180 |  |  |  | (8,133 | )
Net income (loss) |  |  | 7,942 |  |  |  | (643 | ) |  |  | 7,299 |
Basic net income (loss) per share |  | $ | 0.29 |  |  | $ | (0.02 | ) |  | $ | 0.27 |
Diluted net income (loss) per share |  | $ | 0.29 |  |  | $ | (0.02 | ) |  | $ | 0.27 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2016 |  |  | September 30, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |  |  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Selling, general and administrative expense |  | $ | 18,347 |  |  | $ | — |  |  |  | 18,347 |  |  | $ | 60,651 |  |  | $ | (509 | ) |  | $ | 60,142 |
Income from operations |  |  | 18,727 |  |  |  | — |  |  |  | 18,727 |  |  |  | 47,304 |  |  |  | 509 |  |  |  | 47,813 |
Interest expense |  |  | 16,337 |  |  |  | (466 | ) |  |  | 15,871 |  |  |  | 48,924 |  |  |  | — |  |  |  | 48,924 |
Income (loss) before provision (benefit) for income taxes and share of net income from joint venture |  |  | (3,703 | ) |  |  | 466 |  |  |  | (3,237 | ) |  |  | (5,760 | ) |  |  | 509 |  |  |  | (5,251 | )
Provision (benefit) for income taxes |  |  | (6,423 | ) |  |  | 158 |  |  |  | (6,265 | ) |  |  | (6,469 | ) |  |  | 173 |  |  |  | (6,296 | )
Net income |  |  | 4,147 |  |  |  | 308 |  |  |  | 4,455 |  |  |  | 4,879 |  |  |  | 336 |  |  |  | 5,215 |
Basic net income per share |  | $ | 0.15 |  |  | $ | 0.01 |  |  | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | 0.01 |  |  | $ | 0.19 |
Diluted net income per share |  | $ | 0.15 |  |  | $ | 0.01 |  |  | $ | 0.16 |  |  | $ | 0.18 |  |  | $ | 0.01 |  |  | $ | 0.19 |
|  | Three Months Ended |
|  | March 31, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Selling, general and administrative expense |  | $ | 20,712 |  |  | $ | 90 |  |  | $ | 20,802 |
Income (loss) from operations |  |  | 11,874 |  |  |  | (90 | ) |  |  | 11,784 |
Loss before benefit for income taxes and share of net income from joint venture |  |  | (3,419 | ) |  |  | (90 | ) |  |  | (3,509 | )
Benefit for income taxes |  |  | (720 | ) |  |  | (31 | ) |  |  | (751 | )
Net loss |  |  | (1,299 | ) |  |  | (59 | ) |  |  | (1,358 | )
Basic net loss per share |  | $ | (0.05 | ) |  | $ | — |  |  | $ | (0.05 | )
Diluted net loss per share |  | $ | (0.05 | ) |  | $ | — |  |  | $ | (0.05 | )
|  | Year Ended December 31, 2015 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Selling, general and administrative expense |  | $ | 51,745 |  |  | $ | 37 |  |  | $ | 51,782 |
Income (loss) from operations |  |  | 26,797 |  |  |  | (37 | ) |  |  | 26,760 |
Write-off of unamortized debt issuance costs |  |  | 18,673 |  |  |  | 500 |  |  |  | 19,173 |
Income (loss) before provision (benefit) for income taxes and share of net income from joint venture |  |  | (22,950 | ) |  |  | (537 | ) |  |  | (23,487 | )
Provision (benefit) for income taxes |  |  | (10,518 | ) |  |  | (1,180 | ) |  |  | (11,698 | )
Net income (loss) |  |  | (7,431 | ) |  |  | 643 |  |  |  | (6,788 | )
Basic net income (loss) per share |  | $ | (0.35 | ) |  | $ | 0.03 |  |  | $ | (0.32 | )
Diluted net income (loss) per share |  | $ | (0.35 | ) |  | $ | 0.03 |  |  | $ | (0.32 | )
The following tables present the effect of the revision on the Condensed Consolidated Statements of Comprehensive Income (Loss).
|  | Three Months Ended |
|  | March 31, 2017 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income |  | $ | 7,407 |  |  | $ | — |  |  | $ | 7,407 |
Foreign currency translation gain |  |  | 4,706 |  |  |  | 298 |  |  |  | 5,004 |
Other comprehensive income |  |  | 4,706 |  |  |  | 298 |  |  |  | 5,004 |
Comprehensive income |  | $ | 12,113 |  |  | $ | 298 |  |  | $ | 12,411 |
|  | Year Ended December 31, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income (loss) |  | $ | 7,942 |  |  | $ | (643 | ) |  | $ | 7,299 |
Change in fair value of interest rate hedge |  |  | 3,015 |  |  |  | (1,105 | ) |  |  | 1,910 |
Foreign currency translation loss |  |  | (8,984 | ) |  |  | (743 | ) |  |  | (9,727 | )
Other comprehensive loss |  |  | (5,969 | ) |  |  | (1,848 | ) |  |  | (7,817 | )
Comprehensive income (loss) |  | $ | 1,973 |  |  | $ | (2,491 | ) |  | $ | (518 | )
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2016 |  |  | September 30, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |  |  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income |  | $ | 4,147 |  |  | $ | 308 |  |  | $ | 4,455 |  |  | $ | 4,879 |  |  | $ | 336 |  |  | $ | 5,215 |
Change in fair value of interest rate hedge |  |  | 4,211 |  |  |  | (1,967 | ) |  |  | 2,244 |  |  |  | 3,130 |  |  |  | (1,105 | ) |  |  | 2,025 |
Foreign currency translation gain (loss) |  |  | 382 |  |  |  | (760 | ) |  |  | (378 | ) |  |  | 4,176 |  |  |  | (2,402 | ) |  |  | 1,774 |
Other comprehensive income (loss) |  |  | 4,593 |  |  |  | (2,727 | ) |  |  | 1,866 |  |  |  | 7,306 |  |  |  | (3,507 | ) |  |  | 3,799 |
Comprehensive income (loss) |  | $ | 8,740 |  |  | $ | (2,419 | ) |  | $ | 6,321 |  |  | $ | 12,185 |  |  | $ | (3,171 | ) |  | $ | 9,014 |
|  | Three Months Ended |
|  | March 31, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income |  | $ | (1,299 | ) |  | $ | (59 | ) |  | $ | (1,358 | )
Change in fair value of interest rate hedge |  |  | (1,002 | ) |  |  | 367 |  |  |  | (635 | )
Foreign currency translation gain |  |  | 6,719 |  |  |  | 504 |  |  |  | 7,223 |
Other comprehensive income |  |  | 5,717 |  |  |  | 871 |  |  |  | 6,588 |
Comprehensive income |  | $ | 4,418 |  |  | $ | 812 |  |  | $ | 5,230 |
|  | Year Ended December 31, 2015 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income (loss) |  | $ | (7,431 | ) |  | $ | 643 |  |  | $ | (6,788 | )
Change in fair value of interest rate hedge |  |  | (2,584 | ) |  |  | 947 |  |  |  | (1,637 | )
Foreign currency translation loss |  |  | (21,936 | ) |  |  | (3,075 | ) |  |  | (25,011 | )
Other comprehensive loss |  |  | (24,520 | ) |  |  | (2,128 | ) |  |  | (26,648 | )
Comprehensive loss |  | $ | (31,951 | ) |  | $ | (1,485 | ) |  | $ | (33,436 | )
|  | Year Ended December 31, 2014 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Net income |  | $ | 8,217 |  |  | $ | — |  |  | $ | 8,217 |
Change in fair value of interest rate hedge |  |  | (431 | ) |  |  | 158 |  |  |  | (273 | )
Foreign currency translation loss |  |  | (17,731 | ) |  |  | (868 | ) |  |  | (18,599 | )
Other comprehensive loss |  |  | (18,162 | ) |  |  | (710 | ) |  |  | (18,872 | )
Comprehensive loss |  | $ | (9,945 | ) |  | $ | (710 | ) |  | $ | (10,655 | )
The following tables present the effect of the revision on the Condensed Consolidated Balance Sheets.
|  | As of March 31, 2017 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Investment in joint venture |  | $ | 42,387 |  |  | $ | (4,388 | ) |  | $ | 37,999 |
Total assets |  |  | 1,391,043 |  |  |  | (4,388 | ) |  |  | 1,386,655 |
Accumulated other comprehensive loss |  |  | (20,416 | ) |  |  | (4,388 | ) |  |  | (24,804 | )
Total stockholders’ equity |  |  | 327,879 |  |  |  | (4,388 | ) |  |  | 323,491 |
Total liabilities and stockholders’ equity |  |  | 1,391,043 |  |  |  | (4,388 | ) |  |  | 1,386,655 |
|  | As of December 31, 2016 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Investment in joint venture |  | $ | 40,694 |  |  | $ | (4,686 | ) |  | $ | 36,008 |
Total assets |  |  | 1,360,386 |  |  |  | (4,686 | ) |  |  | 1,355,700 |
Accumulated other comprehensive income |  |  | (25,122 | ) |  |  | (4,686 | ) |  |  | (29,808 | )
Total stockholders’ equity |  |  | 315,199 |  |  |  | (4,686 | ) |  |  | 310,513 |
Total liabilities and stockholders’ equity |  |  | 1,360,386 |  |  |  | (4,686 | ) |  |  | 1,355,700 |
|  | As of December 31, 2015 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Current deferred tax assets |  | $ | 6,696 |  |  | $ | 3,707 |  |  | $ | 10,403 |
Total current assets |  |  | 280,181 |  |  |  | 3,707 |  |  |  | 283,888 |
Property, plant and equipment, net |  |  | 318,968 |  |  |  | (329 | ) |  |  | 318,639 |
Goodwill, net |  |  | 449,898 |  |  |  | 5,072 |  |  |  | 454,970 |
Investment in joint venture |  |  | 38,462 |  |  |  | (2,212 | ) |  |  | 36,250 |
Total assets |  |  | 1,380,567 |  |  |  | 6,238 |  |  |  | 1,386,805 |
Accrued salaries, wages and benefits |  |  | 21,125 |  |  |  | (300 | ) |  |  | 20,825 |
Income taxes payable |  |  | 5,350 |  |  |  | 44 |  |  |  | 5,394 |
Total current liabilities |  |  | 133,351 |  |  |  | (256 | ) |  |  | 133,095 |
Non-current deferred tax liabilities |  |  | 117,459 |  |  |  | 8,176 |  |  |  | 125,635 |
Other liabilities |  |  | 4,746 |  |  |  | 178 |  |  |  | 4,924 |
Total liabilities |  |  | 1,066,686 |  |  |  | 8,098 |  |  |  | 1,074,784 |
Additional paid-in capital |  |  | 277,582 |  |  |  | 335 |  |  |  | 277,917 |
Retained earnings |  |  | 55,151 |  |  |  | 643 |  |  |  | 55,794 |
Accumulated other comprehensive income |  |  | (19,153 | ) |  |  | (2,839 | ) |  |  | (21,992 | )
Total stockholders’ equity |  |  | 313,881 |  |  |  | (1,861 | ) |  |  | 312,020 |
Total liabilities and stockholders’ equity |  |  | 1,380,567 |  |  |  | 6,238 |  |  |  | 1,386,805 |
The following tables present the effect of the revision on our Condensed Consolidated Statements of Changes in Stockholders’ Equity.
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
As of and for the year ended December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of interest rate hedge |  | $ | (431 | ) |  | $ | 158 |  |  | $ | (273 | )
Foreign currency translation loss |  |  | (17,731 | ) |  |  | (868 | ) |  |  | (18,599 | )
Accumulated other comprehensive income (loss) |  |  | 5,367 |  |  |  | (710 | ) |  |  | 4,657 |
Total stockholders’ equity |  |  | 173,699 |  |  |  | (710 | ) |  |  | 172,989 |
As of and for the year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (7,431 | ) |  | $ | 643 |  |  | $ | (6,788 | )
Change in fair value of interest rate hedge |  |  | (2,584 | ) |  |  | 947 |  |  |  | (1,637 | )
Foreign currency translation loss |  |  | (21,936 | ) |  |  | (3,075 | ) |  |  | (25,011 | )
Accumulated other comprehensive loss |  |  | (19,153 | ) |  |  | (2,839 | ) |  |  | (21,992 | )
Additional paid-in capital |  |  | 277,582 |  |  |  | 335 |  |  |  | 277,917 |
Total stockholders’ equity |  |  | 313,881 |  |  |  | (1,861 | ) |  |  | 312,020 |
As of and for the year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 7,942 |  |  | $ | (643 | ) |  | $ | 7,299 |
Change in fair value of interest rate hedge |  |  | 3,015 |  |  |  | (1,105 | ) |  |  | 1,910 |
Foreign currency translation loss |  |  | (8,984 | ) |  |  | (743 | ) |  |  | (9,727 | )
Accumulated other comprehensive loss |  |  | (25,122 | ) |  |  | (4,686 | ) |  |  | (29,808 | )
Total stockholders’ equity |  |  | 315,199 |  |  |  | (4,686 | ) |  |  | 310,513 |
As of and for the three months ended March 31, 2017 |  |  |  |  |  |  |  |  |
Foreign currency translation gain |  | $ | 4,706 |  |  |  | 298 |  |  | $ | 5,004 |
Accumulated other comprehensive loss |  |  | (20,416 | ) |  |  | (4,388 | ) |  |  | (24,804 | )
Total stockholders’ equity |  |  | 327,879 |  |  |  | (4,388 | ) |  |  | 323,491 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
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