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Changes in Accounting Principles and Corrections to Previously Issued Financial Statements (Tables) | 3 Months Ended
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Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract] |
Schedule of Changes in Accounting Principles | The following table presents the impact of these changes on the Company's condensed consolidated statement of operations for the three months ended September 30, 2017:
|  | Three Months Ended September 30, 2017
(In thousands, except per share data) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | ASU 2017-07 Adjustments(1) |  | Retrospectively Adjusted
Cost of goods sold |  | $ | 82,706 |  |  | $ | (445 | ) |  | $ | 4,462 |  |  | $ | (1,051 | ) |  | $ | (42 | ) |  | $ | 85,630 |
Gross profit |  | $ | 49,007 |  |  | $ | 445 |  |  | $ | (4,462 | ) |  | $ | 1,051 |  |  | $ | 42 |  |  | $ | 46,083 |
Selling expenses |  | $ | 38,915 |  |  | $ | — |  |  | $ | (5,045 | ) |  | $ | (1,042 | ) |  | $ | 28 |  |  | $ | 32,856 |
General and administrative expenses |  | $ | 11,327 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 32 |  |  | $ | 11,359 |
Operating expenses |  | $ | 50,265 |  |  | $ | — |  |  | $ | (5,045 | ) |  | $ | (1,042 | ) |  | $ | 60 |  |  | $ | 44,238 |
(Loss) income from operations |  | $ | (1,258 | ) |  | $ | 445 |  |  | $ | 583 |  |  | $ | 2,093 |  |  | $ | (18 | ) |  | $ | 1,845 |
Interest expense |  | $ | (523 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,645 | ) |  | $ | (2,168 | )
Other, net |  | $ | 87 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,663 |  |  | $ | 1,750 |
Total other expense |  | $ | (430 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | (412 | )
(Loss) income before taxes |  | $ | (1,688 | ) |  | $ | 445 |  |  | $ | 583 |  |  | $ | 2,093 |  |  | $ | — |  |  | $ | 1,433 |
Income tax (benefit) expense |  | $ | (710 | ) |  | $ | 608 |  |  | $ | 151 |  |  | $ | 543 |  |  | $ | — |  |  | $ | 592 |
Net (loss) income |  | $ | (978 | ) |  | $ | (163 | ) |  | $ | 432 |  |  | $ | 1,550 |  |  | $ | — |  |  | $ | 841 |
Net (loss) income available to common stockholders |  | $ | (978 | ) |  | $ | (163 | ) |  | $ | 432 |  |  | $ | 1,550 |  |  | $ | — |  |  | $ | 841 |
Net (loss) income available to common stockholders per common share—basic |  | $ | (0.06 | ) |  | $ | (0.01 | ) |  | $ | 0.03 |  |  | $ | 0.09 |  |  | $ | — |  |  | $ | 0.05 |
Net (loss) income available to common stockholders per common share—diluted |  | $ | (0.06 | ) |  | $ | (0.01 | ) |  | $ | 0.03 |  |  | $ | 0.09 |  |  | $ | — |  |  | $ | 0.05 |
________________ (1) Reflects changes resulting from the adoption of ASU 2017-07. See Note 2, The following table presents the impact of these changes on the Company's condensed consolidated statement of cash flows for the three months ended September 30, 2017:
|  | Three Months Ended September 30, 2017
(In thousands) |  | As Previously Reported |  | LIFO to FIFO Adjustment |  | Preferable Freight and Warehousing Adjustments |  | Corrections of Freight, Overhead Variances and PPVs |  | Retrospectively Adjusted
Net (loss) income |  | $ | (978 | ) |  | $ | (163 | ) |  | $ | 432 |  |  | $ | 1,550 |  |  | $ | 841 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Deferred income taxes |  | $ | (895 | ) |  | $ | 608 |  |  | $ | 151 |  |  | $ | 543 |  |  | $ | 407 |
Net losses (gains) on derivative instruments and investments |  | $ | 261 |  |  | $ | (1,229 | ) |  | $ | — |  |  | $ | — |  |  | $ | (968 | )
Change in operating assets and liabilities:
Inventories |  | $ | (8,539 | ) |  | $ | 821 |  |  | $ | (582 | ) |  | $ | (2,093 | ) |  | $ | (10,393 | )
Derivative assets (liabilities), net |  | $ | (455 | ) |  | $ | (38 | ) |  | $ | — |  |  | $ | — |  |  | $ | (493 | )
Net cash provided by operating activities |  | $ | 7,104 |  |  | $ | (1 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | 7,104 |

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