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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Income Statement [Abstract]        
Net sales $ 1,429,037 $ 1,425,625 $ 3,150,713 $ 2,547,604
Cost of products sold 1,094,049 1,087,248 2,380,156 1,939,474
Gross profit 334,988 338,377 770,557 608,130
Operating expense:        
Selling, general and administrative 320,408 341,587 648,101 535,340
Depreciation 17,447 17,120 35,048 25,829
Amortization 51,763 37,068 103,784 55,263
Total operating expense 389,618 395,775 786,933 616,432
Income (loss) from operations (54,630) (57,398) (16,376) (8,302)
Interest expense, financing costs, and other 40,452 39,570 78,813 62,138
Income (loss) before provision for income taxes (95,082) (96,968) (95,189) (70,440)
Provision for (benefit from) income taxes [1] (26,996) (30,313) (26,210) (71,381)
Net income (loss) (68,086) (66,655) (68,979) 941
Dividends on preferred shares [2] 6,000 6,000 12,000 6,000
Net income (loss) attributable to common shareholders $ (74,086) $ (72,655) $ (80,979) $ (5,059)
Weighted-average common stock outstanding:        
Basic 68,451,920 68,019,300 68,348,850 67,922,276
Diluted 68,451,920 68,019,300 68,348,850 67,922,276
Net income (loss) per share:        
Basic [3] $ (1.08) $ (1.07) $ (1.18) $ (0.07)
Diluted [3] $ (1.08) $ (1.07) $ (1.18) $ (0.07)
[1] Three and six months ended March 31, 2018 amounts include a non-recurring net tax benefit of $1.5 million and $48.0 million, respectively, resulting from recording the provisional impact of the enactment of the 2017 Tax Cuts and Jobs Act (“TCJA”).
[2] Amounts for the three months ended March 31, 2019 and the three and six months ended March 31, 2018 are composed of $5.0 million in undeclared cumulative Preferred Stock dividends, as well as an additional $1.0 million of Preferred Stock dividends that had been declared and paid as of period end. Six months ended March 31, 2019 amount is composed of $5.0 million in undeclared cumulative Preferred Stock dividends, as well as an additional $7.0 million of Preferred Stock dividends that had been declared and paid as of period end. See Note 3 for further discussion.
[3] See Note 5 for detailed calculations and further discussion.