Note 17. Prior Periods’ Financial Statement Revision

The following tables present the effect of the correction of those misstatements that impacted the three months ended March 31, 2017, as further described in Note 1, and the related adjustments to reflect the revision on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Also, as further described in Note 2, due to the disposition of the PBC Business and the related discontinued operations treatment, the tables below present separately the impact of the correction of the misstatements as well as the effect of recasting the prior periods for discontinued operations.


	Three Months Ended March 31, 2017
	As Originally Reported			Adjustment			Discontinued Operations			As Revised
Cost of sales (exclusive of depreciation and amortization)	$	166,954		$	485		$	(52,959	)	$	114,480
Selling, general and administrative expense		21,494			(500	)		(4,353	)		16,641
Depreciation and amortization		15,568			12			(3,009	)		12,571
Income from operations		22,158			3			(8,309	)		13,852
Income (loss) from continuing operations before provision (benefit) for income taxes and share of net income from joint venture		8,014			3			(8,194	)		(177	)
Benefit (provision) for income taxes		(2,300	)		1			2,676			377
Income from continuing operations		7,407			4			(5,518	)		1,893
Income from discontinued operations, net of tax								5,518			5,518
Net income	$	7,407		$	4					$	7,411
Other comprehensive income:
Foreign currency translation income		4,706			399						5,105

Other comprehensive income (loss):		4,706			399						5,105

Comprehensive income	$	12,113		$	403					$	12,516

Basic net income (loss) per share	$	0.27		$	0.00					$	0.27
Diluted net income (loss) per share	$	0.27		$	0.00					$	0.27

The following table presents the effect of the correction of the misstatements on our Condensed Consolidated Statement of Cash Flows.


	Three Months Ended March 31, 2017
	As Originally Reported			Adjustment			Reclasses ⁽¹⁾			As Revised
Net income (loss)	$	7,407		$	4					$	7,411
Adjustments to reconcile net income to net cash provided by (used by) operating activities:
Depreciation and amortization		15,568			12						15,580	(2)
Total derivative mark-to-market gains, net of cash settlements		(88	)					88			—
Other		—			(268	)		61			(207	)
Changes in operating assets and liabilities:
Income taxes payable (receivable)		—						5,899			5,899
Other		605			(16	)		(6,048	)		(5,459	)
Net cash provided by (used by) operating activities		5,209			(268	)		—			4,941
Cash flows from investing activities
Proceeds from disposals of property, plant and equipment		27			—			(27	)		—
Other		—			268			27			295
Net cash provided by (used by) investing activities		(8,538	)		268			—			(8,270	)

(1)	Includes the reclassification of prior period amounts to reflect current period presentation, including the addition of the income taxes payable (receivable) line as well as condensing immaterial amounts.

(2)	Depreciation and amortization of $3.0 million is included in income from discontinued operations on the Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended March 31, 2017.