The impact of the change from LIFO to FIFO on the Company's Condensed Consolidated Statements of Operations and Comprehensive Loss is summarized below:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2019 | | Three Months Ended June 30, 2018 | | Six Months Ended June 30, 2018 | | As Reported | Adjustment | As Adjusted | | As Reported | Adjustment | As Adjusted | | As Reported | Adjustment | As Adjusted | | (In millions, except per share data) | Cost of sales | $ | 1,106.5 |
| $ | (0.5 | ) | $ | 1,106.0 |
| | $ | 1,220.0 |
| $ | (0.7 | ) | $ | 1,219.3 |
| | $ | 2,469.3 |
| $ | (1.4 | ) | $ | 2,467.9 |
| Operating (loss) income | (0.9 | ) | 0.5 |
| (0.4 | ) | | 3.2 |
| 0.7 |
| 3.9 |
| | (5.5 | ) | 1.4 |
| (4.1 | ) | Income tax (benefit) expense | (12.3 | ) | 0.1 |
| (12.2 | ) | | (6.1 | ) | 0.1 |
| (6.0 | ) | | (15.9 | ) | 0.3 |
| (15.6 | ) | Net (loss) income | (27.3 | ) | 0.4 |
| (26.9 | ) | | (20.1 | ) | 0.6 |
| (19.5 | ) | | (54.2 | ) | 1.1 |
| (53.1 | ) | Comprehensive (loss) income | (20.4 | ) | 0.4 |
| (20.0 | ) | | (29.4 | ) | 0.6 |
| (28.8 | ) | | (74.5 | ) | 1.1 |
| (73.4 | ) | Net (loss) income per common share - basic & diluted | $ | (0.49 | ) | $ | 0.01 |
| $ | (0.48 | ) | | $ | (0.36 | ) | $ | 0.01 |
| $ | (0.35 | ) | | $ | (0.96 | ) | $ | 0.02 |
| $ | (0.94 | ) |
The impact of the change on the Company's Condensed Consolidated Balance Sheets as of December 31, 2018 is as follows: | | | | | | | | | | | | | | | | December 31, 2018 | | | As Reported | | Adjustment | | As Adjusted | | | (In millions) | Inventories | | $ | 839.7 |
| | $ | 24.1 |
| | $ | 863.8 |
| Deferred income taxes | | 154.2 |
| | 6.0 |
| | 160.2 |
| Retained earnings | | 185.9 |
| | 18.1 |
| | 204.0 |
|
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