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